"If The Fool persists in his Folly he will become wise." - William Blake
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US Fed's Williams says monetary policy is "poorly suited" to dealing with financial stability concerns
adjusting rates in pursuit of financial stability can unmoor inflation expectations; must rely on microprudential regulations to achieve stability goals; monetary policy is costly tool for addressing stability concerns; And the talking heads just keep on coming. No prizes for guessing his buzzword for the morning; Euro still enjoying some support across the board;
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