NY Fed Chief Williams:
says the Fed has to to be data dependent and transparent about this thinking
has to be open to changing course when the data suggests that’s what is neededeconomy is strong, facing upside risks to CPIinflation is much higher than the Fed expectedexpects inflation to fall in 2022 but to remain above Fed’s 2% taregtFed is committed to taking action to bring inflation back to 2%
Being data dependent is probably a key requirement for any government policy maker. Of course, it often is not.