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Published: Wednesday, 11/16/2011

Fed hints at new stimulus move


SCOTTSDALE, Ariz. -- Federal Reserve Bank of San Francisco President John Williams said the central bank may need to conduct more asset purchases in the face of stubborn unemployment, moderate growth, and undesirably low inflation.

"Additional monetary policy accommodation -- either in the form of additional asset purchases or further forward guidance on our future policy intentions -- may be needed to bring us closer to our mandated objectives of maximum employment and price stability," Mr. Williams said in a speech in Scottsdale, Ariz.

If economic conditions improve, he said, monetary policy can be tightened.

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