Williams Says Fed Should Act Quickly When Stimulus Need Arises

Central banks should move quickly in this era of low interest rates when they see signs of trouble in the economy, Federal Reserve Bank of New York President John Williams said.

“When you only have so much stimulus at your disposal, it pays to act quickly to lower rates at the first sign of economic distress,” Williams said Thursday in remarks prepared for a speech in New York titled “Living Life near the ZLB,” or zero lower bound on rates.