FILE PHOTO: John C. Williams, president and CEO of the Federal Reserve Bank of New York speaks to the Economic Club of New York in the Manhattan borough of New York, U.S., March 6, 2019. REUTERS/Lucas Jackson
November 24, 2020
(Reuters) – The emergency lending facilities set up by the Federal Reserve to stabilize markets in the spring were successful and could be restarted later if needed after they expire at year end, New York Federal Reserve Bank President John Williams said Tuesday.
“They have played and continue to play an important backstop role, but right now I think financial conditions are quite favorable,” Williams said during a virtual interview with the Wall Street Journal. “If we were in a situation where there was extreme volatility or concerns in those markets, we could deploy the appropriate tools.”
(Reporting by Jonnelle Marte; Editing by Chizu Nomiyama)
