The Federal Reserve's Williams forecasts that inflation will gradually decline to 2% over the next two years.

The Federal Reserve's Williams said that headline inflation is close to 2%, but underlying inflation remains high; real GDP growth in the United States is expected to slow to about 1% this year; uncertainty, tariff measures, and reduced immigration will slow economic growth; moderately tighter monetary policy provides room to review new data; inflation is expected to gradually decline to 2% over the next two years; unemployment is expected to rise to about 4.5% by the end of this year; tariffs will push inflation to 3% this year.