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  • New York Fed President Williams: Fed would address next recession by cutting interest rates to zero, and using communication and asset purchases
Market news
06.11.2019, 15:21

New York Fed President Williams: Fed would address next recession by cutting interest rates to zero, and using communication and asset purchases

  • Data shows labor market is strong
  • Data dependence means reassessing full employment
  • Labor market is really strong with low unemployment
  • Fed officials have a lower view of what sustainable level of unemployment is based on low-inflation
  • Job growth is still solid despite slowdown in exports, business investment in the global economy
  • Slowing global growth and muted inflation pressures argue for a more accommodative policy
  • Monetary policy is moderately accommodative right now
  • Three cuts we did were very effective at managing risks to the U.S. economy
  • Fed will be data dependent and preemptive going forward
  • Fed's change from raising rates cutting rates was about assessing the risks to the outlook
  • Monetary policy does have some limitations so it would be nice to have fiscal policy aligned when addressing downturns
  • Monetary policy going forward should have a commitment to asymmetric 2% inflation goal
  • Does think that 2% inflation is achievable
  • Monetary policy should be somewhat accommodative to support growth of a more inclusive labor market

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