In prepared remarks for an event at the Reserve Bank of India (RBI) in Mumbai on Friday, New York Federal Reserve Bank (Fed) President John Williams said there was “still a long way to go to achieve the 2% inflation target on a sustainable basis.”

Additional information

We have seen significant progress in bringing inflation back to the Fed’s 2% target.

The Fed is determined to get the job done.

Artificial intelligence, climate change, deglobalization, financial innovation and neutral interest rates all pose problems.

Uncertainty will continue to characterize monetary policy for the foreseeable future.

Market reaction

The above comments have no impact on the US dollar against its main rivals, as the US dollar index (DXY) is down 0.16% on the day and is at 104.96.