Fed's Williams Wants Monetary Stimulus Continued |
| NASDAQ - Apr 4, 2012 |
It is necessary for the Federal Reserve to provide strong stimulus under current economic circumstances, a top central banker said Wednesday.
"It's essential that we keep strong monetary stimulus in place," John Williams, president of the Federal Reserve Bank of San Francisco, said in a speech to delivered as part of the SPUR Business Breakfast Series in San Francisco.
"The recovery has been sluggish nationwide, not just in states hit hard by the housing bust," Williams said. "High unemployment, restrained demand, and idle production capacity are national in scope. These are just the sorts of problems monetary policy can address."
He added that another round of quantitative easing, typically referred to as " QE3," is still a possibility. The support for such a program would depend upon ongoing economic developments, he said.
Williams added that risks to the U.S. economy have lessened in recent months as Europe has begun to address its economic challenges. That feeling has led him to believe that another round of quantitative easing likely won't be called for this year.
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- Posted: 2012-04-04 12:41:42
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