Fed's Williams (voter, Neutral) says the big challenge is on inflation and need to get it back to target in a timely manner, reasonable to see another rate hike by year-end

Seeing pretty strong demand from AI. Economy has been remarkably resilient and downside risk to achieving maximum employment have receded. Time for explicit or very direct forward guidance is over. No one knows if higher yields will last. Sees a tug of war between higher trend growth pushing R-Star up and demographics pulling it down. Real rate expectations are a large part of higher yields. Short-run inflation expectations have been more encouraging, though longer term they have not.