SF Fed’s Williams supports buying-up mortgage-backed securities

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John Williams, president of the Federal Reserve Bank of San Francisco, on February 8 said the Federal Open Market Committee should consider restarting its programme of buying mortgage-backed securities if the economic situation worsens.

At the Bishop Ranch Forum in San Ramon, California, Williams said he expected the pace of economic growth in the US to be "frustratingly slow" and the unemployment rate to remain high for years to come. He said that while the Fed had taken extraordinary action to

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