Fed's Williams: Central bank will adjust response to money market volatility 'as appropriate'
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NEW YORK (Reuters) - New York Federal Reserve President John Williams said Thursday the central bank is learning as it works to increase liquidity in the banking system and that it will adjust its approach as needed. One early lesson from the Fed's daily interventions in money markets is that a standing repo facility, which would allow banks to convert Treasury holdings to cash, might not be enough on its own to make sure banks have the liquidity they need, Williams told reporters following an..