San Francisco’s Williams: monetary policy has reached ‘limit’

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The president of the Federal Reserve Bank of San Francisco has said monetary policy is “reaching its limit” and will no longer be able to foster growth in the way it has done since the financial crisis.

“This is a critical juncture for the American economy,” says John Williams in his latest economic letter. As the economy has transitioned from recovery to expansion, Williams says, the US Federal Reserve Board’s monetary policy has managed to support growth by returning to “normal”.

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