{"id":3115,"date":"2026-07-09T23:10:32","date_gmt":"2026-07-09T23:10:32","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=3115"},"modified":"2026-07-09T23:10:32","modified_gmt":"2026-07-09T23:10:32","slug":"feds-williams-says-ai-is-now-his-main-inflation-concern","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=3115","title":{"rendered":"Fed\u2019s Williams says AI is now his main inflation concern"},"content":{"rendered":"<div>\n<p>\u201cIf this creates a sustained impulse to demand relative to supply in inflation, I do think that\u2019s the kind of situation where you don\u2019t look through this,\u201d Williams said Thursday during an event organized by the New York Fed. If inflation ends up being more persistent and meaningfully higher than his baseline forecast, he said, \u201cthen monetary policy would need to respond to that.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3113\">Amazon\u2019s CTO on how developers can ride the AI-powered coding wave<\/a><\/p>\n<p>\u201cOn the other hand, if it isn\u2019t and things play out in a more benign way, I do think monetary policy is, and continues to be, well positioned,\u201d he said.\u00a0<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>As he monitors inflation, Williams said if the Fed\u2019s preferred gauge of underlying price pressures \u2014 the so-called core version of the personal expenditures price index \u2014 \u00a0comes in at a monthly pace of 0.2% over the second half of 2026, that would suggest inflation is on track to return to the Fed\u2019s 2% annualized target.<\/p>\n<p>\u201cA rate of core PCE of two-tenths a month in the second half of this year, that would be consistent with my view of a disinflationary process that\u2019s continuing,\u201d Williams said. \u201cIf it\u2019s higher than that, that would be a sign of inflation a bit more persistent.\u201d<\/p>\n<p>The Fed has kept its benchmark rate steady this year, but support for rate hikes is growing among officials. Nine policymakers penciled in at least one quarter-point hike in 2026 in their latest set of economic projections submitted at their June gathering. At the same meeting, a few participants saw a case for raising interest rates, according to minutes released Wednesday.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3111\">Meta releases latest update of AI model Muse Spark as tech giant accelerates AI push under Alexandr Wang<\/a><\/p>\n<p>Read More:\u00a0Fed Minutes Show \u2018a Few\u2019 Officials Saw Case for June Hike<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>The minutes revealed that policymakers had discussed how they would want to respond to various scenarios for future inflation.<\/p>\n<p>Williams said the exercise, and the details provided by the minutes, captured a \u201ccollective reaction function,\u201d referring to the framework through which the central bank thinks about the economy and how to respond to certain conditions. \u201cIt shows the richness of these scenarios,\u201d he said.\u00a0<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Chairman Kevin Warsh has touted the need for a new approach at the Fed, announcing task forces to review the central bank\u2019s communications, balance sheet and inflation models as well as to study key issues such as productivity and data sources. The task forces would have around six months to deliver a set of suggested changes, the new chairman said.\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>The New York Fed chief, who is also vice chair of the Federal Open Market Committee, said the task forces were a \u201cunique and timely\u201d opportunity to think about key areas for the central bank. \u201cIt\u2019s a pretty aggressive timeline of trying to get those reports back to us,\u201d Williams added.\u00a0<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=3109\">The housing market just split in two: Prices are falling out West and soaring in the Northeast<\/a><\/p>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Monetary policy would need to respond to that,&#8221; said Federal Reserve Bank of New York President John Williams.<\/p>\n","protected":false},"author":1,"featured_media":3114,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[123],"tags":[],"class_list":["post-3115","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-federal-reserve"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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