NEW YORK—Federal Reserve Bank of New York President John Williams said Wednesday that inflation is still at problematic levels and the U.S. central bank will act to lower it, in comments that noted recent stress in the banking sector will likely weigh on economic activity.
“Inflation is still too high, and we will use our monetary policy tools to restore price stability,” Williams said in a speech given before a gathering held by the Money Marketeers of New York University.
