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US economy 'healthy' from a monetary policy perspective

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"We're closing in on the longest economic expansion on record, unemployment is at historically low levels, and inflation is close to our 2 per cent target," Federal Reserve Bank of New York President John Williams said in remarks prepared for delivery at a Association for Neighborhood and Housing Development conference in New York.

[NEW YORK] The US economy is in a healthy place "from a pure monetary policy perspective," but there is more work policymakers can do to make sure growth is widely shared, a top Federal Reserve official said on Thursday.

"We're closing in on the longest economic expansion on record, unemployment is at historically low levels, and inflation is close to our 2 per cent target," Federal Reserve Bank of New York President John Williams said in remarks prepared for delivery at a Association for Neighborhood and Housing Development conference in New York.

"From a pure monetary policy perspective, this is a healthy economy. But I'm acutely aware that not everyone is feeling the benefits of the economy's good performance."

Mr Williams said the regional central bank he runs can provide research to local community development organisations as well as push initiatives that target wage and housing inequality. The speech did not deal at length with Mr Williams' views on monetary policy.

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