Fed’s Williams: Tariffs effect on inflation could be significant

More comments flowing in from the New York Fed President, John Williams, as he continues to speak at the Swiss National Bank (SNB) -International Monetary Fund Conference in Zurich.

The US economy and monetary policy are both in a good place.

We are close to reaching our goals.

First quarter GDP provided mixed messages.

Fed is constantly assessing the situation.

Need to get inflation to 2% and keep it there.

US economy is 'steaming through the current patch.

Central bank adheres to the mantra of data dependency.

US data has been better than expected.

But notes that there are downside risks to global growth.

Tariffs are like a negative supply shock.

Tariffs effect on inflation could be significant.