Fed's Williams (voter) says price stability is foundational for the economy; inflation should ease because the biggest shocks have largely played out

Energy prices remain very important in economy, but US is less exposed relative to past. Depending on war's path, doesn't expect further surge in energy prices. Determining how restrictive monetary policy is is hard. I'm a big believer in being data dependent. September rate hike aimed at creating swifter return to 2% inflation. Strong period of productivity could lift natural rate of interest.