Fed's Williams speaking in an in review with Yahoo finance
- sees continued economic recovery in 2nd half
- US a critical inflection point as infections spike
- Federal Reserve is far from raising interest rates
- central bank policymakers have time to craft any forward guidance on future policy
- this is not a time to think about liftoff or normalization
- feels that the public is responding well to the Fed's existing communication which gives the committee more time to brainstorm how it will tie future rate moves to economic conditions
- says yield curve controls as a potential tool, but would only rely on it if the Fed saw that existing communications were not being as effective as we would like.
- The economy remains in a very deep hole
- providing liquidity is necessary to support confidence in the financing markets that support large US employers
Williams is the president of the New York Fed reserve. As such he holds a permanent voting seat on the FOMC board.
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