New York Federal Reserve President John Williams has warned that growing financial strain on lower- and middle-income Americans could undermine the broader U.S. economy’s resilience, even as wealthier households benefit from a booming stock market.

Williams spoke in an interview with the Financial Times, link here for transcript (gated) .

• said the Fed’s December policy meeting would be “a balancing act”
• officials will weigh persistent inflation, its high and not showing signs of coming down at present, against an economy that remains resilient.
• cautioned that many Americans are struggling with rising housing and living costs
• such pressures risk weighing on consumer confidence and spending

This article was written by Eamonn Sheridan at investinglive.com.



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