Williams Calls for Rethink of Fed Orthodoxy in New Economic Era

  • Urges considering alternatives to targeting low inflation
  • San Francisco Fed chief urges more robust fiscal backstop

Alberto Gallo: Investors Fear Central Bank Monster

Federal Reserve Bank of San Francisco President John Williams called for monetary and fiscal policy makers to rethink the way they operate, saying America is getting a taste of a new economic normal that warrants a change in orthodoxy.

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