Fed's Williams: New policy framework implies 'lower for longer' interest rates

San Francisco Fed President John Williams recently crossed the wires, via Reuters, suggesting that the Fed should 'very seriously' consider adopting inflation price-level targeting. He did not comment on interest rate hikes or on recent economic activity.

Key quotes (via Reuters):

• A price-level framework merits very serious consideration for central banks including the Fed
• New policy framework implies 'lower for longer' interest rates