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Fed's Williams: Balance Sheet Use Is Not Unconventional
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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 ... (full story)
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