Fed's Williams: No. 1 issue is inflation, its running far too high and persistently so

NY Fed President and influential FOMC member John Williams said on Monday that inflation remains the number one issue given that it is running far too high and persistently so, reported Reuters. The Fed's goal is to get the economy back into balance, he continued, adding that it's a challenging task, but that the Fed is committed to doing it. 

Williams' remarks come ahead of commentary from Fed Chair Jerome Powell on Tuesday, which will also be closely scrutinised.