WSJ: Fed’s Williams says time for central bankers to weigh new policy toolkit

The Wall Street Journal (WSJ) provides their afterthoughts on the San Francisco Fed President Williams’ speech delivered earlier on the day.

Key Quotes:

“Mr. Williams didn't comment on the near-term monetary policy outlook

Instead, he pressed forward with advocating for policymakers to adapt their tools to a world where interest rates are lower than they used to be

Changes in the economy suggest the Fed will not be able to raise rates as high as it did in the past, he said.

And because rates are unlikely to go up all that much, the Fed will have less room to lower them when the inevitable next economic downturn arrives.”