ECB's Lagarde: Europe needs to level up regulation of non-banks involved in bank-like activities

BoJ's Governor Ueda: The Risk of BoJ being behind the curve on inflation is not that big but warrants attention BOJ GOV UEDA: WE WILL SCRUTINISE AS MUCH DATA AS NEEDED TO MAKE OUR POLICY DECISION, WHICH INCLUDES NOT ONLY HARD DATA BUT CORPORATE SURVEYS WE LACK ENOUGH DATA TO DETERMINE NEXT YEAR'S WAGE OUTLOOK AS THAT WILL DEPEND ON HOW U.S. ECONOMIC DEVELOPMENTS AFFECT JAPAN'S… BOJ GOV UEDA: CHANCE OF U.S. ECONOMY OVERSHOOTING AVERAGE FORECASTS MADE BY ECONOMISTS IS NOT ZERO THERE IS SIGNIFICANT UNCERTAINTY REGARDING LEVEL OF JAPAN'S NEUTRAL RATE OF INTEREST BOJ WILL COMMUNICATE CLOSELY WITH GOVT WHOEVER BECOMES NEXT PREMIER, WILL GUIDE MONETARY…

Fed's Williams: Balance Sheet Use Is Not Unconventional - Monetary Policy Tools Not Limited To Short-Term Rates - Uncertainty And Change Will Be With Us For Foreseeable Future - Central Bank Policy Works Better When Public Understands It Fed's Williams: Uncertainty and change will be with us for the foreseeable future Williams: Prepare for the Unexpected Thank you for the kind introduction. It’s a great honor to speak at this event recognizing our esteemed colleague and friend, Klaas Knot. As is often the case among central bankers, Klaas and I first met on a rubber raft floating down the Snake River in Wyoming’s Grand Teton National Park. It was August 2011. Klaas was a rookie monetary policymaker at the time, having been in his role as president of the Dutch National Bank for less than two months. I, on the other hand, was a relatively grizzled veteran with nearly six months under my belt as president of the San Francisco Fed. While we were leisurely cruising downstream, enjoying the wonderful views of nature, our raft suddenly came upon a black bear and two cubs who were—equally leisurely—crossing the river right ahead of us. Carefully, the raft pilot steered us near enough to the bears for close-up photos, but not so near as to get between the mama bear and her cubs—the one thing even a city slicker like me knows never to do. We didn’t appreciate it at the time, but this adventure was an omen for the many challenges we would face navigating the unexpected in the years to come.