Dow Jones Newswires (01/10/12) Derby, Michael
While the Federal Reserve should do all it can to help the economy recover, what it does next depends on how events play out, says John Williams, president of the Federal Reserve Bank of San Francisco. “It’s vital that the Fed use all the tools at its disposal to achieve its mandated employment and price-stability goals,” Williams states, adding that “the policy actions the Fed takes from here on out will depend on how economic conditions develop.”
Williams is encouraged by improvements in the December jobs report, but says the dip to 8.5% unemployment is not “a game changer.” Tepid growth is the trend and if economic performance were to further weaken in the first quarter “that would make a strong case for doing more” to stimulate the economy, he says.
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