https://minutesof.com/john-williams/on/financial-innovation/ Everything John Williams has said on financial innovation: 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 https://minutesof.com/q/5ecf69ad-8bff-498b-9547-68b8799ffad8/ https://minutesof.com/q/5ecf69ad-8bff-498b-9547-68b8799ffad8/ “I say this in part to convey a concern that while perhaps the upsides to innovation in intermediation are far larger than I at times perceive them to be, the downsides emanating from instruments and maturity transformation that are more plainly about managing regulatory processes seems a permanent feature of the environment.” — NY Fed speeches financial innovation https://minutesof.com/q/f0d2d6fd-0b67-4601-9bda-33827f15707e/ https://minutesof.com/q/f0d2d6fd-0b67-4601-9bda-33827f15707e/ “A deep and liquid intraday market might enhance collateral management and reduce some frictions in managing intraday liquidity, which could reduce banks’ demand for reserves for payment purposes.” — NY Fed speeches financial innovation