New York Federal Reserve President John Williams has warned that growing financial strain on lower- and middle-income Americans could undermine the broader U.S. economy’s resilience, even as wealthier households benefit from a booming stock market. Williams spoke in an interview with the Financial Times, link here for transcript (gated) .said the Fed’s December policy meeting would be “a balancing act” officials will weigh persistent inflation, its high and not showing signs of coming down at present, against an economy that remains resilient.cautioned that many Americans are struggling with rising housing and living costssuch pressures risk weighing on consumer confidence and spending This article was written by Eamonn Sheridan at investinglive.com.