“Monetary policy is trying to keep the overall economy in a good place,” John Williams, president of the Federal Reserve Bank of New York, said at a conference on Asian economic policy organised by the Federal Reserve Bank of San Francisco.
“If there is a need to deliver more stimulus, there is policy space,” Williams added. “It’s also important to talk about how fiscal policy could play a more supportive role in a downturn. Monetary policy will be more effective if they work together.”
The US Dollar Index largely ignored these comments and was last down 0.12% on the day at 98.20. Below are some additional key quotes, per Reuters.
“Reserves are now at levels that are consistent with ample reserves.”
“Need further research into resilience of repo market.”
“Monetary policy should not get caught up in ups and downs on trade, Brexit; want to take a longer view.”
“Monetary policy can anchor inflation expectations.”
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