More from panel discussion with NY Fed's Williams
- Fed would address next recession by cutting interest rates 20, and using communication and asset purchases
- Monetary policy does have some limitations so it would be nice to have fiscal policy aligned when addressing downturns
- monetary policy going forward should have a commitment to asymmetric 2% inflation goal
- does think that 2% inflation is achievable
- monetary policy should be somewhat accommodative to support growth of a more inclusive labor market