Fed Policy, University of San Diego Style
Reuters -- A Fed economist for nearly two decades, San Francisco Fed President John Williams also taught for half a year at Stanford's Business School in 2008, but on Tuesday, his students appeared to be only half listening.
When Williams took the podium a warm, sunny day at the University of San Diego's School of Business Administration, he argued that the U.S. central bank must press on with its easy money policy to boost the economy. The recovery is growing too slowly to trim unemployment very quickly, he told the audience of perhaps 200 students and professors, and inflation is set to fall below the Fed's 2 percent target. The Fed, he emphasized, is nowhere close to raising rates. (Full Story)