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Fed’s Williams sees steep decline in inflation ahead

Fed’s Williams sees steep decline in inflation ahead

Cooling global demand and steady improvements in supply should result in falling rates of inflation for goods over the next year, New York Fed President John Williams said Monday. “These factors should contribute to inflation declining to about 3% next year,” Williams said in a speech to the U.S. Hispanic Chamber of Commerce in Phoenix. Inflation, as measured by the Fed’s favorite personal consumption expenditures (PCE) price index, was running at a 6.2% annual rate in August.