williams

New York Federal Reserve President Williams stated that inflation levels in the United States remain too high, and policymakers must take further action to curb price pressures. He emphasized that the Federal Reserve must ensure that its actions do not cause unnecessary harm to the goal of achieving full employment.

Bloomberg cited informed sources reporting that as the longest-serving policymaker at the Federal Reserve approaches retirement, discussions are underway within the Fed regarding the term limit rules for regional Fed presidents. The focus is on whether John Williams, the president of the New York Fed, can serve until June 2028, which would mark his 10-year tenure as president of the New York Fed, or if he must step down when he turns 65 in June 2027.According to relevant rules, regional Fed presidents are typically required to retire at 65; however, those who are first appointed after the age of 55 may serve for up to 10 years or until they reach 75, whichever comes first, as determined by the regional Fed board. One point of contention is whether the years Williams served as president of the San Francisco Fed from 2011 to 2018 count toward this 10-year limit. Williams himself and several observers have previously interpreted the rules as allowing him to serve until June 2028. He told Bloomberg last month that he plans to serve until that time and described it as a commitment to the New York Fed board and his family.If Williams steps down in 2027, Federal Reserve Chairman Kevin Warsh would have the opportunity to influence the appointment of this important regional Fed leader a year earlier. Informed sources say it is currently unclear whether Warsh or other board officials support ending his term early; if there is a push for him to leave prematurely, it could provoke opposition from other regional Fed presidents, who may be concerned about further Washington intervention in regional Fed operations. A spokesperson for the Federal Reserve Board and Pat Wang, chair of the New York Fed board, both declined to comment. The New York Fed board has not yet officially announced the initiation of the succession selection process, which typically takes several months.

Federal Reserve's Williams stated that the U.S. labor market is exceptionally stable and robust, with remarkable economic resilience and enhanced growth. Currently, inflation levels in the U.S. are too high and have persisted for too long, and the inflation rate must be reduced to 2%.Energy prices affect ticket prices, and artificial intelligence has a limited impact on chip prices. The effects of tariffs have largely become a thing of the past.

John Williams, the president of the New York Federal Reserve, stated that the supply of AI devices may take more than two years to catch up with demand, which could increase inflationary pressures. He made these remarks during an interview with Bloomberg on Tuesday, noting that the construction of AI infrastructure is driving up the prices of chips and goods that use chips. When asked whether the supply and demand for AI would balance out in the next two years, Williams said, "I think it will take longer. Assuming the demand impulse continues as expected, and that is a big assumption."Williams also reiterated his view that the Federal Reserve may need to raise interest rates once more this year to curb inflation. He stated, "I have not changed my view that we may need to raise rates again." However, regarding 2027, he said, "We need to observe," and added, "At this point, I see no reason to believe we need to do more." He also predicted that even with rising interest rates, AI investment will remain strong, as relevant investors are relatively insensitive to prices, believing that AI will bring significant productivity gains and economic transformation.The shortage of AI device supply may affect Bitcoin miners entering the field, as they need to compete for chips and power equipment. IREN signed a new $2.8 billion AI cloud contract in July, while Bitcoin miners face huge financing demands when advancing AI projects, and lenders are becoming increasingly picky.

Federal Reserve's Williams stated that another rate hike this year is appropriate.

Federal Reserve's Williams stated that the downside risks to achieving full employment have diminished.

Federal Reserve's Williams expressed strong support for the FOMC's latest interest rate decision and reiterated the commitment to restoring inflation to the 2% target level. If inflation does not decline to 2% as expected, the Federal Reserve will take action to achieve price stability.Additionally, Williams stated that the impact of the Middle East conflict on inflation is expected to gradually weaken, but he acknowledged that there is still uncertainty in the situation. He also pointed out that market pricing provides valuable information to the Federal Reserve, but the Federal Reserve does not need to agree with the market pricing levels.Furthermore, he believes that investments in artificial intelligence will not pose risks to financial stability and is not surprised by the volatility in the AI industry.

According to Jinshi reports, Federal Reserve's Williams expects overall inflation to drop to about 3.25% by the end of the year and continue moving towards the 2% target by 2027, with the expectation of reaching that target in 2028.

According to Jinshi reports, Federal Reserve's Williams stated that economic growth is robust and in line with trends, and the labor market is also solid and stable.

According to Jinshi, Federal Reserve's Williams stated that his level of concern about the risks posed by stablecoins is lower than that of some individuals.

According to Jinshi reports, Federal Reserve's Williams stated that due to the impact of energy prices, the recent outlook on inflation has become more positive.

According to Jinshi reports, Federal Reserve's Williams stated that the inflation level is "undoubtedly high and far exceeds" the target, reflecting the impact of tariffs, energy prices, and the demand for technology products related to artificial intelligence (AI).

According to Jinshi reports, Federal Reserve's Williams stated that the current job market shows resilience, emphasizing that the Federal Reserve must restore inflation to the 2% target.

According to Jinshi reports, Federal Reserve's Williams stated that the Federal Reserve will adjust reserve management purchase operations as needed.

According to Jinshi reports, Federal Reserve's Williams stated that monetary policy is at a "suitable position" for the current economy.

According to Jinshi reports, Federal Reserve's Williams expects the U.S. economic growth rate to be 2.25% in 2028, and the unemployment rate will drop to 4%.

According to Jinshi reports, Federal Reserve's Williams stated that the standing repo operations are a key tool to curb interest rate pressures.

According to Jinshi reports, Federal Reserve's Williams stated that inflationary pressures are expected to ease.