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New York Federal Reserve President John Williams is crossing the wires and has said the Fed is learning as it takes steps to increase liquidity in the banking system and that it will adjust its approach as needed.

Key comments:

  • New York  Fed’s Williams says officials will adjust plan for money markets ‘as appropriate’.
  • Central Bank will continue to learn about demand for reserves.
  • Effects of repo volatility on fed funds rate were ‘outside of recent experience’.