New York Federal Reserve Bank President John Williams on Monday said that expectations for future rates of inflation remain well-anchored around the Fed’s 2 percent objective, though he acknowledged upside risks and the persistence of a “great deal of uncertainty” around the inflationary outlook. Williams made the remarks via video call on Sept. 27 at the Economic Club of New York, where he laid out his outlook for inflation and discussed implications for monetary policy. “We saw some very high monthly inflation readings in the second quarter of this year, reflecting pandemic-related supply bottlenecks and imbalances, but more recent data have shown that the inflation rate is moderating,” Williams said. Core personal consumption expenditures (PCE) inflation, which excludes the volatile categories of food and fuel and is the Fed’s preferred gauge for price growth, has averaged around 2.75 percent per month in annualized terms since the start of the pandemic, …