Federal Reserve San Francisco President John Williams

  • Calls for global rethink of monetary policy frameworks
  • Says low rates worldwide means dealing with any future recession will be harder than in past
  • Global central banks need to find strategies that work well together, and are not at cross-purposes
  • Central banks should consider unconventional policy tools for use in future
  • Should also consider negative rates, higher inflation target, or targeting price-level or nominal income

These comments from his speech - there will be more coming from 2 Q&A's