NY Fed President and voting member on the FOMC. Speaking in New York

Fed's Williams is on the wires saying:

  • Too low inflation is more pressing problem today
  • Low neutral interest rates are here to stay
  • He's always vigilant about excessively high inflation, but excessively low-inflation is a more pressing problem
  • Persistent low inflation expectations can drag down current inflation
  • Falling inflation gives central banks less room to maneuver when faced with a slowdown
  • Central banks should reassess their strategies, tools
  • Fiscal policy, like automatic stabilizers, can also support economy
  • Doesn't discuss near-term outlook

Is he worried about low inflation or just telling us about the risks from low inflation?

It was not long ago, that the Fed was harping on the transitory inflation.

We will be paying attention to any Q&A session for additional policy clues from the NY Fed President and voting member on the FOMC board.