New York Federal Reserve Governor John Williams said that in view of high energy prices and strong demand from investment in artificial intelligence, there is still a lot of work to be done to fight inflation. Williams said that the market expects another rate hike before the end of the year. This is “a reasonable judgment, but we still have to depend on the situation.” Williams said that despite the major shocks, the US economy has shown “extraordinary resilience” and the labor market is also “stable.” However, he pointed out that the ongoing war between the US and Iran poses a lingering risk of inflation, while “demand in the field of artificial intelligence is quite strong.” “This is our mission: we still have a lot of work to do,” Williams said at an event in London on Thursday. “Inflation has been above target for five consecutive years.”

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