New York Fed forced to clarify Williams’ speech

L to R: Central Banking’s Christopher Jeffery and John Williams
John Williams
Shell Jiang

The Federal Reserve bank of New York was forced to play down remarks made by its president John Williams after he stoked expectations of an aggressive policy rate cut in a speech.

Williams laid out a case for lowering policy rates sooner and stronger in a low interest rate environment.

“When you only have so much stimulus at your disposal, it pays to act quickly to lower rates at the first sign of economic distress,” he said in the July 18 speech.

The remarks boosted market expectations that

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact [email protected] or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact [email protected] to find out more.

To continue reading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: