Fed's Williams: Expect overall inflation to decline to around 3.25% by year-end, continue toward our 2% goal in 2027 and land on target in 2

Fed's Williams: with inflation running high, it is imperative that we restore it to 2% goal on a sustained basis - Current stance of monetary policy is well positioned to do that - Inflation is unquestionably too high at about 4% - Encouraging reasons to expect that inflation has peaked and should edge down in coming quarters - Expect overall inflation to decline to around 3.25% by year-end, continue toward our 2% goal in 2027 and Land on target in 2028 - Medium- and longer-term inflation expectations remain well anchored - Expect real GDP growth to be around 2%-2.25% this year and over the next two years - Expect unemployment rate to edge down gradually to 4% in 2028 - Full effects of the AI investment surge on growth, employment, and inflation are hard to predict - Supply disruptions stemming from the middle East conflict continue to be a source of risk to the outlooks for both growth and inflation - Growth in the economy is solid and on trend, and the labor market is likewise solid and stable - While effects of middle East conflict pose significant risks, US economy so far has absorbed these events fairly well - Labor market showing signs of resilience and stability