Federal Reserve's Williams: Recent economic data is very good, inflation has been slowly and gradually decreasing

John Williams, President of the Federal Reserve Bank of New York, stated that recent economic data is very good. The economy is close to full employment. The labor market is essentially in a balanced state. Inflation has been slowly and gradually decreasing.

Due to trade issues, economic growth in the first quarter was unusual. Monetary policy is in a good position. The policy is slightly restrictive and in a good state. Some forward-looking indicators have sent worrying signals. Trade is a particularly uncertain factor.