From the Federal Reserve Bank of San Francisco:
Thank you. It’s a pleasure to be here today and to have this opportunity to speak at UC Irvine. I would like to thank the Center for Economics and Public Policy for inviting me. The subject of my talk is the unconventional monetary policies pursued by the Federal Reserve over the past four years. In my time today, I’ll cover three big questions. First, why has the Fed turned to unconventional monetary policies? Second, what effects are these policies having on the economy? And, third, what potential risks do they pose? I should stress that my remarks represent my own views and not necessarily those of others in the Federal Reserve System.

For the full transcript, please visit http://www.frbsf.org/news/speeches/2012/john-williams-1105.html?utm_sour....