Federal Reserve Bank of New York President John Williams said on Thursday that the existence of a central bank lending facility helps reduce uncertainty over how much liquidity the financial system requires.
Williams also said “there is no single best way to supply reserves, rather, the best mix of tools depends on circumstances and policy preferences unique to each jurisdiction.” His comments came from the text of a speech to be given at his bank. In the largely technical remarks, Williams did not comment on the economy and monetary policy outlook.