John Williams · NY Fed speeches

“A low r-star implies the economy can encounter more frequent and longer periods when monetary policy is constrained by the effective lower bound on nominal interest rates, potentially impeding the achievement of a central bank’s inflation goals and other macroeconomic objectives.”

Listen at the timestamp · See it in context

Verbatim excerpt with a timestamp. The full recording is at the source; we link out and do not host it. Everything John Williams is on record saying.