San Fran Fed President John Williams ramped up the Fed Speak today, calling for a wide open throttle on monetary policy by The Fed.
Translation: QE to INFINITY....AND BEYOND!!!!!
Federal Reserve Bank of San Francisco President John Williams said the U.S. central bank should keep trying to boost growth because it’s missing its goals for both full employment and price stability.
“It’s vital that we keep the monetary policy throttle wide open,” Williams said today in the text of remarks given in Claremont, California. “This will help lower unemployment and raise inflation back toward levels consistent with our mandates. And we want to do so quickly to minimize total economic damage
Williams, a voting member on the policy-setting Federal Open Market Committee this year, said that inflation is likely to be about 1.5 percent this year and next, below the central bank’s goal of 2 percent. He also said the current 8.3 percent unemployment rate is “very far from maximum employment,” and that joblessness “will remain well over 7 percent for several more years.”
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