NY Fed's John Williams: "Unquestionably too-high" inflation may soon subside

NY Fed President John Williams stated that US inflation at around 4% is 'unquestionably too high' but offered optimism that it has peaked and should ease in coming quarters. He projects inflation falling to about 3.25% by year-end and reaching the 2% target by 2028, citing peaking oil prices, easing shelter inflation, and fading tariff effects. The Fed held rates steady at 3.50%-3.75% at its last meeting under new Chairman Kevin Warsh, though policymakers remain divided on whether a 25 basis point hike is needed this year.