The Minutes of John Williams on policy https://minutesof.com/john-williams/on/policy/ Everything John Williams has said on policy: 4 verbatim quotes, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:23:02 +0000 Williams argues central banks should support economic historians because they can efficiently provide compleme https://minutesof.com/q/f0f7bc82-f4b9-4644-9e6f-1b4c2ffdf5e2/ https://minutesof.com/q/f0f7bc82-f4b9-4644-9e6f-1b4c2ffdf5e2/ “This observation to me provides a compelling reason for why a central bank Research Group should support economic historians.” — NY Fed speeches policy Williams says average effective tariff rate estimates range between 15 and 20 percent. https://minutesof.com/q/0f537a7f-4c94-4417-b868-8bba0a4f15bf/ https://minutesof.com/q/0f537a7f-4c94-4417-b868-8bba0a4f15bf/ “Combining enacted and announced tariffs, estimates of the resulting average effective tariff rate range somewhere between 15 and 20 percent.” — NY Fed speeches policy Williams reports the FOMC held the federal funds rate at 3.5 to 3.75 percent. https://minutesof.com/q/4e409109-248c-4772-a141-3981e98924ef/ https://minutesof.com/q/4e409109-248c-4772-a141-3981e98924ef/ “Accordingly, at its meeting last week, the FOMC decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.” — NY Fed speeches policy Williams suggests centrally clearing standing repo operations could improve participation and efficacy, noting https://minutesof.com/q/11b9b981-f200-4428-bf91-b7b686a0b77f/ https://minutesof.com/q/11b9b981-f200-4428-bf91-b7b686a0b77f/ “Centrally clearing SRPs would be one way to reduce such cost and thus could further improve counterparty participation and the efficacy of SRPs in curbing rate pressures and maintaining the stability of funding markets.” — NY Fed speeches policy