US inflation too high; essential to get back to 2%: Fed's Williams

Yahoo Finance · Reuters · 2026-11-06 10:31 UTC

FRANKFURT, Nov 6 (Reuters) - US economic growth has remained resilient and the labour market is remarkably stable despite successive shocks, but inflation is...

FRANKFURT, Nov 6 (Reuters) - US economic growth has remained resilient and the labour market is remarkably stable despite successive shocks, but inflation is too high and must be brought back to 2%, New York Federal Reserve President John Williams said on Friday.

Inflation has soared across the world, mostly as the US war on Iran has pushed energy prices higher but also because soaring investment in AI has pushed up costs for some IT-related products and services.

"Inflation is absolutely too high. It's been too high for too long," Williams told a European Central Bank conference in Frankfurt. "It's absolutely essential that we bring inflation back to our 2% target in a timely manner and a sustained basis."

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