In July, monetary tightening bias reinforced

There were “pearls of wisdom”: “We need to see the economy slow down a little bit … because I think eventually inflation pressures will emerge,” Williams tells reporters. In his speech, San Francisco Fed president Williams also says: The theme of my talk is that monetary policy is reaching its limit as to what it can do to generate economic growth. Other actors—in both the private and public sectors—need to step up and take the lead in making the investments and enacting policies needed to improve the longer-term prospects of our economy and society. Which is the same story told…

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