Fed's Williams speaking on Fed's coronavirus liquidity program actions
- Relatively low take-up of the Fed programs are a sign of success
- Fed programs have helped ease credit market strains
- Has seen significant improvement in credit market access
- Scale and reach of the Fed's response is an indication of the gravity and unique nature of the situation
- Central banks emergency facilities demonstrate its commitment to prevent lasting damage to the economy
Comments are not related to the economy or monetary policy, but to reflect that liquidity concerns are so far contained as a result of the coronavirus.
More from Williams:
- Fed's goals are maximum employment and price stability and we are close to 2% inflation goal but not quite there (HMMM)
The Fed has said that they would be willing to have inflation move above the 2% level before they would look to raise rates. The Fed is also said that they don't expect to raise rates for a couple of years.
