New York Fed President WILLIAMS said the Fed can wait for more data after a September hike and does not need to move again immediately. He said if the economy evolves roughly in line with his view, the federal funds target range may need one more increase before year-end to help bring inflation back to 2%, but stressed this is his personal forecast and decisions will remain data-dependent. WILLIAMS warned inflation remains the policy priority and must be prevented from becoming persistent via second‑round effects. He flagged tariffs, the Middle East conflict-driven energy price moves and AI investment as sources of upside price pressure. He expects US inflation near 3.5% at year‑end, then gradually falling to target by 2028, projects about 2.25% GDP growth this year and roughly 4% unemployment next year, and said immigration, aging and limited productivity growth constrain longer‑term potential.(金十)