Fed's Williams: Fed has tools to deal with inflation that is too high

New York Federal Reserve President John Williams said on Monday that he is not that concerned about fiscal aid creating significant and sustained imbalances that lead to high inflation, as reported by Reuters.

Additional takeaways

"Fed's main goal is to anchor inflation expectations at 2%."

"Fiscal policy helped position the economy for a strong rebound this year."

"The biggest drivers to the economy are the virus and vaccinations."

"Fed has the tools to deal with inflation that is too high."

Market reaction

The US Dollar Index showed no immediate reaction to these comments and was last seen losing 0.4% on the day at 90.94.