Federal Reserve Bank of New York President John Williams said that while inflation has cooled recently toward the Fed’s 2 per cent target, policymakers are still some distance from their goal.

“Inflation is now around 2.5 per cent, so we have seen significant progress in bringing it down. But we still have a way to go to reach our 2 per cent target on a sustained basis,” Williams said at event hosted by the Reserve Bank of India in Mumbai on Friday. “We are committed to getting the job done.”

Washington Post