“We know how to deal with inflation,” Williams said during a virtual conversation with Rutgers University students. He expects inflation overall to stay near the Fed’s 2% target, he said.
However, the Fed official noted that unemployment is still high and the economy still has a long ways to go as it recovers. Some businesses are also overcoming bottlenecks due to supply disruptions or higher demands for certain goods, Williams said, citing a sporting goods store he visited that is sold out of bicycles.
“There’s a lot of things that are uncertain, but I think the economy will be able to get back to full strength,” he said.
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