Federal Reserve's Williams: Major central banks must be prepared for emergencies, stabilizing inflation expectations is crucial

Federal Reserve FOMC permanent voting member and New York Fed President John Williams stated that major central banks must be prepared to respond to unpredictable changes and emphasized the importance of stabilizing inflation expectations. He pointed out that the public's understanding of central bank policies would enhance the effectiveness of those policies and mentioned uncertainties that could arise from global demographic changes and artificial intelligence. Williams also noted that unconventional monetary policy tools, such as bond purchases, have become conventional tools