New York Federal Reserve (Fed) President Williams was on the wires last minutes, via Reuters, speaking about vulnerabilities of the global financial system at a dinner event, in New York.

Key Quotes:

Interest rates will be very low for the foreseeable future and growth will be modest.

Monetary policy is moderately accommodative.

What worries him about persistently low inflation is that inflation expectations could come down.

The economy is in a good place with a really strong labor market and an unemployment rate of 3.5% not creating inflation.

Monetary policy is well-positioned right now.

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