Fed's Williams: Asset valuations are very high

New York Federal Reserve President John Williams said on Wednesday that the Fed will need to adjust monetary policy if labor market recovers more quickly than expected or if inflation stays higher for longer than anticipated, per Reuters.

Additional takeaways

"Asset valuations are very high."

"Focused on maximum employment and price stability goals."

"Seeing purchases of treasury securities and mortgage-backed securities as working through the same channel of lowering long term interest rates."

"The effects of interest rates on their own are not the biggest drivers of housing prices."

Market reaction

These comments don't seem to be having an impact on the USD's performance against its rivals. As of writing, the US Dollar Index was up 0.13% on the day at 92.64.