Fed's Williams says monetary policy not best tool for financial stability
Thursday, November 17, 2022
© Reuters. FILE PHOTO: John Williams, chief executive officer of the Federal Reserve Bank of New York, speaks at an event in New York, U.S., November 6, 2019. REUTERS/Carlo Allegri/File Photo By Michael S. Derby
NEW YORK (Reuters) - New York Federal Reserve President John Williams said on Wednesday he still believes monetary policy is not the best tool to address financial stability risks, and that policymakers instead should take action to boost the resilience of things like the U.S. Treasury market.
"For monetary policy to be most effective, financial markets must function properly," Williams said in prepared remarks for a speech to a Treasury market conference at the New York Fed.
"Using monetary policy to mitigate financial stability vulnerabilities can lead to unfavorable outcomes for the economy," Williams said, adding that "monetary policy should not try to be a jack of all trades and a master of none."
Williams did not comment on the near-term monetary policy outlook in his prepared remarks. The New York Fed chief is also vice chair of the rate-setting Federal Open Market Committee.
But Williams did say that amid the current chapter of high inflation, the world's central banks have been taking "strong action" to bring price pressures down. "Restoring price stability is of paramount importance because it is the foundation of sustained economic and financial stability. Price stability is not an either/or, it's a must-have," he said.
The central banker said the Fed and markets need to work together for solutions to improve market resilience.
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04-10-2023 06:44:55 (UTC+7)
EUR/USD
1.0469
+0.0004 (+0.04%)
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EUR/USD
1.0469
+0.0004 (+0.04%)
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GBP/USD
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USD/JPY
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AUD/USD
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+0.0008 (+0.12%)
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USD/CAD
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EUR/JPY
156.13
+0.16 (+0.10%)
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EUR/CHF
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+0.0003 (+0.03%)
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Gold Futures
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Silver Futures
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Copper Futures
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Crude Oil WTI Futures
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+0.18 (+0.20%)
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Brent Oil Futures
91.10
+0.39 (+0.43%)
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Natural Gas Futures
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+0.002 (+0.07%)
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US Coffee C Futures
148.80
-0.30 (-0.20%)
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Euro Stoxx 50
4,095.45
-42.18 (-1.02%)
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S&P 500
4,229.45
-58.94 (-1.37%)
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DAX
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-162.00 (-1.06%)
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FTSE 100
7,470.16
-40.56 (-0.54%)
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Hang Seng
17,276.00
-533.66 (-3.00%)
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US Small Cap 2000
1,724.80
-32.02 (-1.82%)
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IBEX 35
9,165.50
-153.50 (-1.65%)
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BASF SE NA O.N.
41.760
-0.130 (-0.31%)
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Bayer AG NA
43.88
-0.99 (-2.20%)
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Allianz SE VNA O.N.
220.95
-1.75 (-0.79%)
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Adidas AG
160.72
-3.88 (-2.36%)
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↑ BuyMoving Avg:
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Deutsche Lufthansa AG
7.247
-0.213 (-2.86%)
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Siemens AG Class N
133.10
-1.34 (-1.00%)
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Deutsche Bank AG
9.931
-0.185 (-1.83%)
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↑ BuyMoving Avg:
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Buy (9)
Sell (0)
| EUR/USD | 1.0469 | ↑ Buy | |||
| GBP/USD | 1.2079 | ↑ Buy | |||
| USD/JPY | 149.12 | ↑ Buy | |||
| AUD/USD | 0.6309 | ↑ Buy | |||
| USD/CAD | 1.3708 | Buy | |||
| EUR/JPY | 156.13 | ↑ Buy | |||
| EUR/CHF | 0.9643 | ↑ Buy |
| Gold | 1,838.95 | ↑ Sell | |||
| Silver | 21.392 | Buy | |||
| Copper | 3.6167 | ↑ Buy | |||
| Crude Oil WTI | 89.41 | Buy | |||
| Brent Oil | 91.10 | ↑ Buy | |||
| Natural Gas | 2.944 | Buy | |||
| US Coffee C | 148.80 | ↑ Buy |
| Euro Stoxx 50 | 4,095.45 | Neutral | |||
| S&P 500 | 4,229.45 | ↑ Buy | |||
| DAX | 15,085.21 | ↑ Sell | |||
| FTSE 100 | 7,470.16 | ↑ Sell | |||
| Hang Seng | 17,276.00 | ↑ Buy | |||
| Small Cap 2000 | 1,724.80 | Neutral | |||
| IBEX 35 | 9,165.50 | ↑ Sell |
| BASF | 41.760 | ↑ Buy | |||
| Bayer | 43.88 | Buy | |||
| Allianz | 220.95 | ↑ Buy | |||
| Adidas | 160.72 | ↑ Buy | |||
| Lufthansa | 7.247 | Buy | |||
| Siemens AG | 133.10 | Neutral | |||
| Deutsche Bank AG | 9.931 | ↑ Buy |
| Mua/Bán 1 chỉ SJC # So hôm qua # Chênh TG | |
|---|---|
| SJC Eximbank | 6,840/ 6,890 (0/ 0) # 1,489 |
| SJC HCM | 6,820/ 6,890 (0/ 0) # 1,490 |
| SJC Hanoi | 6,820/ 6,892 (0/ 0) # 1,492 |
| SJC Danang | 6,820/ 6,892 (0/ 0) # 1,492 |
| SJC Nhatrang | 6,820/ 6,892 (0/ 0) # 1,492 |
| SJC Cantho | 6,820/ 6,892 (0/ 0) # 1,492 |
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| ↀ Giá vàng thế giới | ||
|---|---|---|
| $1,824.20 | -1.52 | -0.08% |
| ʘ Giá bán lẻ xăng dầu | ||
|---|---|---|
| Sản phẩm | Vùng 1 | Vùng 2 |
| RON 95-V | 25.370 | 25.870 |
| RON 95-III | 24.840 | 25.330 |
| E5 RON 92-II | 23.500 | 23.970 |
| DO 0.05S | 23.590 | 24.060 |
| DO 0,001S-V | 24.450 | 24.930 |
| Dầu hỏa 2-K | 23.810 | 24.280 |
| ↂ Giá dầu thô thế giới | |||
|---|---|---|---|
| WTI | $88.33 | +6.33 | 0.08% |
| Brent | $90.65 | +4.99 | 0.06% |
| $ Tỷ giá Vietcombank | ||
|---|---|---|
| Ngoại tệ | Mua vào | Bán ra |
| USD | 24.180,00 | 24.550,00 |
| EUR | 24.859,25 | 26.224,03 |
| GBP | 28.671,87 | 29.892,56 |
| JPY | 158,19 | 167,45 |
| KRW | 15,50 | 18,88 |
| Cập nhật lúc 06:36:57 04/10/2023 Xem bảng tỷ giá hối đoái | ||
