The Minutes of John Williams on ample reserves https://minutesof.com/john-williams/on/ample-reserves/ Everything John Williams has said on ample reserves: 2 verbatim quotes, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:23:03 +0000 Williams says the fed funds rate has been outside target range on only one day since January 2019. https://minutesof.com/q/000db072-74c2-4381-afec-ffadd8078854/ https://minutesof.com/q/000db072-74c2-4381-afec-ffadd8078854/ “since the formal adoption of the current ample reserves framework in January 2019, the effective federal funds rate has been outside of the target range on only one day, in September 2019 ( Panel 1 ).” — NY Fed speeches ample reserves Williams notes the federal funds rate has been outside target range on only two days since December 2008. https://minutesof.com/q/4a9bd5ad-4081-46da-a55a-d53026900938/ https://minutesof.com/q/4a9bd5ad-4081-46da-a55a-d53026900938/ “since December 2008, the EFFR has been outside of the target range on only two days.” — NY Fed speeches ample reserves