John Williams, President & CEO of the Federal Reserve Bank of San Francisco
Speaking as part of a panel, the topic is Systemic Risk
Bloomberg headlines;
- US Treasuries are priced extraordinarily high
- Equilibrium rates much lower today than 20 years ago
- Fed takes spillovers from the rest of the world into account
And, via Reuters:
- Biggest systemic risk today is big declines in broad classes of assets as rates rise
- The 'new normal' level of US interest rates may be as low as 3%
- Makes sense for the fed to move rates back to normal over the next couple of years
- The fact the Fed is able to raise rates is a positive for the global economy
I may have misspelled Will I ams into Google. Or, maybe it autocorrected. But, if not, here he is with the other panel members. No, I don't know why he is at the Grammy's.