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    "headline": "Fed Chair Williams Signals Inflation Decline Ahead of September Meeting",
    "dek": "New York Fed Chair John Williams expects inflation to continue falling despite service sector pressures.",
    "prose": "John Williams, Chairman of the New York Federal Reserve, stated on 2026-07-08 that recent economic data is encouraging and supports the decision to keep interest rates unchanged at the July FOMC meeting. [^1]\n\nAccording to recent New York Federal Reserve data, only 4% of AI-using service firms reported laying off workers as a result of AI in the past six months. [^2]\n\nJohn Williams emphasized that the core inflation trend is gradually moving downward as the initial impact of tariffs on prices has passed. [^3]\n\nJohn Williams identified tariffs and high energy prices triggered by tensions in the Middle East as the primary sources of current inflationary pressure. [^4]\n\nAround 13% of service firms said AI had caused them to hire more employees to help deploy and make use of AI. [^5]\n\nNo manufacturers reported any AI-related layoffs in 2025 or 2026 according to the New York Federal Reserve data. [^6]\n\nThe report's authors stated that existing workers are much more likely to be retrained than replaced by AI. [^7]\n\nThe Federal Reserve will carefully examine new data before making a decision at the next meeting scheduled for September 15-16 in Washington. [^8]",
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