Fed's Williams: Inflation may take longer to reach 2% target

Federal Reserve Bank of New York President John Williams stated in a speech on Thursday that it is "imperative" to bring inflation back to the central bank's 2% target. He noted that monetary policy is "well positioned" for the current economic environment.

Williams cautioned that the return to the 2% inflation goal could take longer than previously anticipated. The remarks come as markets look for clues on the Fed's next policy moves amid persistent price pressures.