Fed's Williams: Inflation dynamics mean the Fed can safely 'look through' transitory inflation shocks

New York Fed President John Williams recently crossed the wires arguing the traditional trade-offs between employment and inflation, known as the Phillips Curve, was 'alive and kicking.'

"Inflation dynamics mean the Fed can safely 'look through' transitory inflation shocks. We must remain vigilant about possible inflation surge and also ensure inflation does not get anchored below the target," Williams explained.