Fed's Williams: Downward trend in inflation expectations will likely continue

In his prepared remarks delivered at a Bank of England conference in London, New York Federal Reserve President John Williams argued that the downtrend in inflation expectations would likely to continue if inflation were to underrun target levels as it did in the past six years.

"But there is still time to avert this fate," Williams added, per Reuters. "Keeping inflation expectations anchored at the right point will depend not just on policymakers holding themselves accountable for inflation, but on their ability to clearly execute and communicate their policies."

These comments had little to no impact on the greenback's valuation and the US Dollar Index was last up 0.16% on the day at 97.47.