New York Federal Reserve President John Williams said on Monday that monetary policy is "well positioned" for what the economy might do this year, as he acknowledged there are risks that inflation could once again heat up. "Monetary policy is moderately restrictive," Williams said in an interview with Yahoo Finance, with the current setting of interest rates "putting some downward pressure on inflation." Williams added that while he cannot predict when the U.S. central bank might change the current level of interest rates, keeping it in place "for some time" will allow officials to study incoming data and decide what they need to do next.