Fed’s John Williams backs current administered-rates operational framework
New York Fed President John Williams said the Fed’s current operational framework—using administered rates rather than active reserve management—has proven highly effective, supported by ample reserve supply and related tools.
New York Fed President John Williams said he supports the central bank’s current operating framework, which relies on administered rates rather than active reserve management. Williams said the combination of ample reserves and these tools enables the FOMC to maintain strong interest rate control.