NEW YORK, April 14 (Reuters) - Inflation could be volatile in the near term as the economy recovers from the pandemic but price increases should remain subdued and the Federal Reserve knows how to act if inflation gets too high, New York Fed President John Williams said on Wednesday. Williams expects inflation overall to stay near the Fed’s 2% target, he said during a virtual conversation with Rutgers University students. He also noted that unemployment is still high and the economy still has a long ways to go as it recovers.