Fed's Williams: Economic recovery has been more robust than many were expecting

The economic recovery in the US has been more robust than many were expecting, New York Federal Reserve President John Williams said on Tuesday, as reported by Reuters.

Additional takeaways

"Optimistic we will be able to continue to see a pretty strong economic recovery rest of this year and next year."

"Seeing the economy growing above trend and getting back to close employment in about three years."

"COVID is the focus and depending on how the pandemic continues issues like vaccine and treatment will affect the economy."

"Fed wants people to understand we want 2% inflation to be what people think about when planning for the future."

"We recognize there's a lot of downward pressure on inflation and we need to offset that."

"Fed is as focused on making sure inflation doesn't get too high as keeping it from getting too low."

"Not worried about inflation and the Fed has proven ability to rein in high inflation."

Market reaction

The US Dollar Index largely ignored these comments and was last seen losing 0.34% on the day at 93.95.