New York Federal Reserve President John Williams on Friday said that the U.S. central bank needed independence from the White House in order to get inflation back to its 2% target.

Members of the central bank’s policy committee voted unanimously Wednesday to hold the crucial fed funds rate at its current high level to fight inflation that's still running too hot for comfort.

According to New York Federal Reserve Bank President John Williams, maintaining price stability and achieving economic prosperity heavily relies on the U.S. central bank’s 2% inflation target. In the coming months,

New York Federal Reserve Bank President John Williams underscored the importance of the U.S. central bank's 2% inflation target on Friday, calling the Fed's preferred policy tool an essential element in achieving price stability and economic prosperity.