Pres of NY Fed, Williams, voting FOMC member: A low neutral rate is here to stay.

We have a prepared speech from Pres of NY Fed, Williams, talking at a council of foreign relations in New York. Last time we heard from him, he said we are right where we need to be with rates, and that there is no need to move at this point. He is not commenting on short term outlook or trade in his prepared speech, but there will be a Q/A session to watch out for.

Key comments from the speech

• A low neutral rate is here to stay.
• excessive low inflation is a problem and can drag down current inflation.
• Falling inflation gives central banks less room to manoeuvre.
• Central Banks should reassess their strategy and their tools.