Williams says sizeable Standing Repo Facility usage is fully expected and desirable when economically sensible.
“Given the criticality of those aims, it is desirable and fully expected that the SRF be used whenever it is economically sensible to do so.”
Williams argues unconventional policies are within the long tradition of monetary theory, not emergency measures.
“These are not “emergency,” “crisis,” or “break-the-glass” policies, but those that are well within the long tradition of monetary theory and practice.”