The New York Fed’s new president: part stand-up, part centrist
New York — John Williams would have preferred one of his 20 pairs of tennis shoes. The US central banker has a set for every occasion. But a recent Friday found the incoming Federal Reserve Bank of New York president in dress loafers, speaking to bankers and entrepreneurs at the City Club in Los Angeles. Currently San Francisco Fed chief, he delivered a rare blend of economics dissertation and stand-up comedy. He teased a woman about her shopping prowess, then joshed with a man who asked about bitcoin that "you don’t, actually, have to". Between wisecracks, Williams had a policy message: US growth is strong, unemployment is low, and the Fed will gradually lift interest rates, probably three or four times this year. Williams’s quirks — his obsessions also include video games and Elvis Costello — set him apart from his more buttoned-up Fed colleagues. The style differences are about to gain a wider audience as the Californian takes the helm of the New York Fed, one of the most powerfu...
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