New York Federal Reserve President John Williams on Tuesday said the fight against inflation could be complicated by a rebound in global growth that increases demand for goods while supply-chain bottlenecks persist. Goods inflation had slowed rapidly toward the end of 2022. Williams said the Fed still has a “way to go” to get inflation back down to its 2% target, a process that could take a “few years.” On Tuesday, the government reported the consumer price index rose 6.4% in the 12 months ended in January. Williams did not comment on the CPI report in his speech to the New York Bankers Association.
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