In his last public remarks before the quiet period, New York Federal Reserve Bank President John Williams on Thursday said he felt the current policy level was “restrictive enough” to get inflation down to 2 per cent and that officials had to consider future risks and uncertainties.

“Not only in the US but, quite honestly, the other advanced economies. They have seen the disinflation happen with relatively small, low degrees of economic disruption,” he said at the Economic Club of New York.

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