While inflation is "unquestionably too high," there are reasons to believe it may have crested and should soon start subsiding, and U.S. monetary policy is well positioned to guide inflation back to the Federal Reserve's target, New York Fed President John Williams said on Wednesday.
"Inflation is unquestionably too high at about 4%, well above the (Federal Open Market Committee)'s longer-run goal of 2%," Williams said in remarks prepared for an event in New York.
