Metals Slip, Dollar Weakens as US Shutdown Drags On

UK service providers achieved a marginal expansion of business activity in September. However, the rate of growth eased sharply since August amid sluggish demand conditions. Weak ...

German service firms recorded a modest increase in business activity that was the quickest seen for eight months in September, according to the latest HCOB PMI® survey data. The ...

ECB's Lagarde: Europe needs to level up regulation of non-banks involved in bank-like activities

Fed's Williams: Balance Sheet Use Is Not Unconventional - Monetary Policy Tools Not Limited To Short-Term Rates - Uncertainty And Change Will Be With Us For Foreseeable Future - Central Bank Policy Works Better When Public Understands It Fed's Williams: Uncertainty and change will be with us for the foreseeable future Williams: Prepare for the Unexpected Thank you for the kind introduction. It’s a great honor to speak at this event recognizing our esteemed colleague and friend, Klaas Knot. As is often the case among central bankers, Klaas and I first met on a rubber raft floating down the Snake River in Wyoming’s Grand Teton National Park. It was August 2011. Klaas was a rookie monetary policymaker at the time, having been in his role as president of the Dutch National Bank for less than two months. I, on the other hand, was a relatively grizzled veteran with nearly six months under my belt as president of the San Francisco Fed. While we were leisurely cruising downstream, enjoying the wonderful views of nature, our raft suddenly came upon a black bear and two cubs who were—equally leisurely—crossing the river right ahead of us. Carefully, the raft pilot steered us near enough to the bears for close-up photos, but not so near as to get between the mama bear and her cubs—the one thing even a city slicker like me knows never to do. We didn’t appreciate it at the time, but this adventure was an omen for the many challenges we would face navigating the unexpected in the years to come.