New York Fed President Williams stated that inflation remains too high and deemed the market's expectation of a decline in oil prices over the next 6-12 months as reasonable. Monetary policy will focus on the impact of energy prices on inflation, noting that AI investment is a driver of inflation

John Williams, President of the Federal Reserve Bank of New York (who holds a permanent voting seat on the FOMC and is regarded as the third-most powerful figure at the Federal Reserve): Inflation remains "too high." The market's expectation that oil prices will fall over the next 6 to 12 months is reasonable. Monetary policy focuses on how energy prices affect inflation. AI investment is a driver of inflation.