Fed's Williams: Better to take preventative measures ...

Federal Reserve Williams has crossed the wires, advocating for a rate cut. 

Fed's Willaims says: 

• It is better to take preventative measures on rates than to wait for disaster to unfold;
• Says research shows that when neutral rates are low you should not 'keep your powder dry';
• Says policymakers must move more quickly to vaccinate the economy and add monetary stimulus when rates are close to zero;
• Says when rates are near zero, policymakers cannot afford to take a wait and see approach;
• Says lower-for-longer rates foster good financial conditions, allow stimulus to pick up steam, allows inflation to rise;
• Says promising temporarily higher inflation after rates touch zero can offset nearly all negative effects of low rates;
• Says if inflation gets stuck below the goal, people's expectations may push inflation lower, reducing fed's ability to be effective.

About the Federal Reserve

The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics led to the desire for central control of the monetary system in order to alleviate financial crises.