NY Fed President John Williams rails against low inflation and calls for central bank action
“New York Federal Reserve President John Williams called on Thursday for central banks to change their strategy to combat low inflation, which he labeled ‘a symptom of deeper problems affecting advanced economies. In the pre-2008 era, inflation was a major concern for the public and central banks alike,’ the leader of the Fed’s key district said in prepared remarks for a speech at the Council on Foreign Relations in New York. ‘And, while I will always be vigilant about inflation that’s too high, inflation that’s too low is now a more pressing problem.'”
USAGOLD note: Now on the easy money bandwagon, Williams joins Clarida, Bullard, Brainard and others. As head of the New York Fed, his voice is an influential one.
Repost from 6-6-2019