Officials: New mass graves found in Ivory Coast
















ABIDJAN, Ivory Coast (AP) — Up to 10 new mass graves have been discovered near the site of a July attack on a camp for displaced people, officials said Tuesday, amid allegations that initial casualty totals were downplayed to mask killings carried out by the national army.


Rights groups claim summary executions were carried out by the Republican Forces of Ivory Coast, known by its French acronym of FRCI. Last month, officials found six bodies in a well close to the former campsite in the western town of Duekoue.













Government, army and U.N. officials toured 10 more graves in the same area on Saturday, said Paul Mondouho, vice-mayor of Duekoue. He said the graves had first been identified by civilians, and that officials did not know the number of bodies they contained because they had not yet been properly exhumed.


“People were suspecting the presence of bodies in these graves because of the smell coming out of them and because of the shoes we saw nearby,” Mondouho said.


Prosecutor Noel Dje Enrike Yahau, who is based in the commercial capital of Abidjan, confirmed that multiple new graves had been discovered but could not provide details. U.N. officials and the local prosecutor in charge of investigating the suspected killings could not be reached Tuesday.


U.N. spokeswoman Sylvie van den Wildenberg confirmed that U.N. forces helped Ivorian authorities secure a perimeter around 10 wells “similar to the one in which six bodies were found,” and that “some of those wells are suspected mass graves.”


She stressed that Ivorian authorities were leading the investigation but that the U.N. was able to provide assistance.


Army spokesmen could not be reached Tuesday. The Justice Ministry has previously vowed to investigate the discovery of the initial grave.


On the morning of July 20, a mob descended on the U.N.-guarded Nahibly camp, which housed 4,500 people displaced by violence in Ivory Coast, burning most of the camp to the ground. Officials said at the time that six people were killed.


The attack was prompted by the shooting deaths of four men and one woman on the night of July 19, according to local officials and residents. In response a mob of some 300 people overran the camp on the morning of July 20 after the perpetrators of the shootings reportedly fled there.


The victims in the July 19 attack lived in a district dominated by the Malinke ethnic group, which largely supported President Alassane Ouattara in the disputed November 2010 election. The camp primarily housed members of the Guere ethnic group, which largely supported former President Laurent Gbagbo.


Gbagbo’s refusal to cede office despite losing the election to Ouattara sparked months of violence that claimed at least 3,000 lives.


Albert Koenders, the top U.N. envoy to Ivory Coast, said one week after the attack that U.N. security forces had been inside and outside the camp at the time but that no Ivorian security forces were present. He said the U.N. forces decided not to fire at a large group of people that were attacking the camp in order to avoid “a massacre.”


Several witnesses have said soldiers and traditional hunters, known as dozos, participated in the attack on the camp. Both military and dozo leaders have denied the claims, saying they had tried to protect the camp.


In a statement released Friday, the International Federation for Human Rights, known by its French acronym of FIDH, said it had information — including the preliminary results of autopsies — confirming that the six bodies found in October were men who had been summarily executed by the army.


“The disappearance of dozens of displaced persons after the attack, as well as confirmation of cases of summary and extra-judicial executions, suggest a much higher victim rate than the official figures report,” said the organization, which counts Ivorian civil society groups among its members.


Duekoue was one of the hardest-hit towns during the post-election violence. The U.N. has established that at least 505 people were killed in and around the town, including during a notorious March 2011 massacre that claimed hundreds of lives and was allegedly carried out by fighters loyal to Ouattara.


Duekoue residents belonging to ethnic groups that supported Gbagbo have long complained about abuses carried out by the FRCI, with some pointing to the direct involvement of the local commander, Kone Daouda. FIDH said in its statement that Daouda had been transferred following the discovery of the grave in October, and called for him to be interrogated over the matter.


The group also said two FRCI members were being “actively sought” after failing to return to their barracks on Oct. 16, noting that they are believed to have fled to neighboring Burkina Faso.


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AT&T’s Nokia Windows phone prices to undercut rivals
















SAN FRANCISCO (Reuters) – AT&T set a $ 50 starting price for Nokia‘s latest Windows smartphones, on which the struggling Finnish phone maker is pinning its hopes for a turnaround.


The No. 2 U.S. mobile provider said on Tuesday that it will sell the Nokia Lumia 820 for $ 49.99 and the flagship Lumia 920 phone for $ 99.99 compared with its $ 199.99 pricing for the HTC Corp Windows Phone 8X device.













Nokia, which has lost out hugely to Apple Inc and Samsung Electronics Co in recent years, is hinging its entire future on Microsoft‘s mobile software. HTC mostly sells phones based on Google Inc’s Android software but is hoping to diversify with Windows Phone 8.


The three devices are key for Microsoft which is banking on its Windows Phone 8 software to challenge Apple’s iPhone and Android phones from vendors like Samsung.


The low Nokia price shows that volumes are more important to the company than profits as it is hoping to re-build a U.S. customer base, Current Analysis analyst Avi Greengart said.


And with such aggressive pricing, the only reason these phones could fail to sell well is if consumers decide they are not interested in the Microsoft software, Greengart said.


“It’s almost a referendum on Microsoft’s operating system,” said the analyst.


AT&T is also offering a free wireless charging plate with the purchase of the Lumia 920, which is worth about $ 80 according to an estimate from Greengart, who used previous wireless chargers as a benchmark.


“This is a valuable accessory that AT&T and Nokia are throwing in the box for free,” Greengart said. “I would think this will make it more difficult for HTC because they have a product with a smaller display and less unique features.”


The prices are for customers who sign a two-year wireless contract with AT&T. The phones, which are available beginning November 9, can be pre-ordered starting Wednesday.


(Reporting by Poornima Gupta; Additional reporting by Sinead Carew in New York; Editing by James Dalgleish)


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The Civil Wars cancel tour using divorce language
















NASHVILLE, Tenn. (AP) — Grammy-winning duo The Civil Wars have canceled their upcoming tour dates, citing irreconcilable differences.


The folk-pop duo Joy Williams and John Paul White released a statement Tuesday announcing that because of “internal discord and irreconcilable differences of ambition” they were unable to “continue as a touring entity at this time.”













Although they used the language of divorce, the duo added, “Our sincere hope is to have new music for you in 2013.”


Williams and White are both married, but to other people. Williams had a baby this summer with husband Nate Yetton, the duo’s manager.


Earlier this year the pair canceled part of their European tour.


The duo found unexpected success with their 2011 debut album, “Barton Hollow.” With backgrounds in gospel and rock, they met when they were both asked to contribute to a country project and found chemistry.


Back then, the pair framed their partnership in terms of courting. White told The Associated Press that after two songwriting sessions, “I finally got up the nerve to ask her out, as it were.”


“In a musical way,” Williams said.


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Pfizer says FDA approves arthritis drug Xeljanz
















NEW YORK (AP) — Pfizer says the Food and Drug Administration approved its rheumatoid arthritis pill Xeljanz (ZEL’jans), seen as potential big seller for the world’s largest pharmaceutical company.


Pfizer Inc. says the FDA approved Xeljanz as a treatment for moderate to severe rheumatoid arthritis in patients who can’t take methotrexate or haven’t been helped by it. Xeljanz is intended to slow the progression of the disease. The approval comes about two weeks sooner than expected.













Xeljanz, or tofacitinib, is the first rheumatoid arthritis treatment from a new class of pain medications called JAK inhibitors. The drugs interfere with enzymes that contribute to tissue inflammation.


Rheumatoid arthritis is a major area of research for drug companies because it is a chronic condition, meaning patients will likely take the drugs regularly for a long time.


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Futures off lows as election called for Obama
















NEW YORK (Reuters) – Stock index futures fell late on Tuesday, but were off session lows, as major TV networks called the U.S. presidential election for Democratic incumbent Barack Obama over challenger Mitt Romney.


S&P 500 futures fell 6.7 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration of the contract. Dow Jones industrial average futures lost 50 points and Nasdaq 100 futures fell 8.75 points.













S&P futures earlier fell as much as 14 points.


Cash markets posted strong gains earlier despite a string of weaker-than expected results from U.S. companies, with notable strength in stocks and sectors that were seen favorable under a Romney win, including coal, energy and defense shares.


“The first reaction is a giveback of today’s movement, but the fact that we’ll have a decision is as important as anything,” said Art Hogan, managing director at Lazard Capital Markets in New York.


He said the most important market catalyst now is the speed at which Washington deals with the so-called fiscal cliff, some $ 600 billion in spending cuts and tax increases that are due to kick in next year and could derail the U.S. economic recovery.


The vote including congressional races points to a status quo result, Democrats retaining control of the Senate and the House of Representatives staying in Republican hands.


(Reporting by Rodrigo Campos; Editing by Leslie Gevirtz)


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Methane warnings ignored before NZ mine disaster
















WELLINGTON, New Zealand (AP) — A New Zealand coal mining company ignored 21 warnings that methane gas had accumulated to explosive levels before an underground explosion killed 29 workers two years ago, an investigation concluded.


The official report released Monday after 11 weeks of hearings on the disaster found broad safety problems in New Zealand workplaces and said the Pike River Coal company was exposing miners to unacceptable risks as it strove to meet financial targets.













“The company completely and utterly failed to protect its workers,” New Zealand Prime Minister John Key said Monday.


The country’s labor minister, Kate Wilkinson, resigned from her labor portfolio after the report’s release, saying she felt it was the honorable thing to do after the tragedy occurred on her watch. She plans to retain her remaining government responsibilities.


The Royal Commission report said New Zealand has a poor workplace safety record and its regulators failed to provide adequate oversight before the explosion.


At the time of the disaster, New Zealand had just two mine inspectors who were unable to keep up with their workload, the report said. Pike River was able to obtain a permit with no scrutiny of its initial health and safety plans and little ongoing scrutiny.


Key said he agrees with the report’s conclusion that there needs to be a philosophical shift in New Zealand from believing that companies are acting in the best interests of workers to a more proscriptive set of regulations that forces companies to do the right thing.


The commission’s report recommended a new agency be formed to focus solely on workplace health and safety problems. It also recommended a raft of measures to strengthen mine oversight.


Key said his government would consider the recommendations and hoped to implement most of them. He would not commit on forming a new agency. Workplace safety issues are currently one of the responsibilities of the Ministry of Business, Innovation and Employment.


In the seven weeks before the explosion, the Pike River company received 21 warnings from mine workers that methane gas had built up to explosive levels below ground and another 27 warnings of dangerous levels, the report said. The warnings continued right up until the morning of the deadly explosion.


The company used unconventional methods to get rid of methane, the report said. Some workers even rigged their machines to bypass the methane sensors after the machines kept automatically shutting down — something they were designed to do when methane levels got too high.


The company made a “major error” by placing a ventilation fan underground instead of on the surface, the report found. The fan failed after the first of several explosions, effectively shutting down the entire ventilation system. The company was also using water jets to cut the coal face, a highly specialized technique than can release large amounts of methane.


The report did not definitively conclude what sparked the explosion itself, although it noted that a pump was switched on immediately before the explosion, raising the possibility it was triggered by an electrical arc.


The now-bankrupt Pike River Coal company is not defending itself against charges it committed nine labor violations related to the disaster. Former chief executive Peter Whittall has pleaded not guilty to 12 violations and his lawyers say he is being scapegoated.


An Australian contractor was fined last month for three safety violations after its methane detector was found to be faulty at the time of the explosion.


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TV networks tell staff: watch what you tweet on Election Day
















LOS ANGELES (Reuters) – Television networks face a new challenge in covering this year’s excruciatingly close presidential election: prevent closely guarded exit poll results from leaking onto Twitter, Facebook and other social media platforms.


The major TV news networks agreed to shield early exit poll data suggesting who is leading in a state until the state’s polls close. That means no tweeting exit polls, posting on Facebook, or re-tweeting figures reported by others.













“We will not either project or characterize a race until all the polls are scheduled to have closed in that state,” said Sheldon Gawiser, director of elections for NBC News.


Election officials worry that leaks could discourage people from voting if they think the race in their state is already decided, depressing the vote count and distorting the results. In 1985, Congress extracted a promise from the major TV networks to refrain from using exit polls to project a winner in a particular state, or to characterize who is leading, while voting continues in that area.


The closeness of this year’s election between President Barack Obama and Republican challenger Mitt Romney has focused attention on key battleground states – such as Ohio, Virginia and Florida – and what their exit polls might signal about who will win the White House.


It has resurrected memories of the disputed 2000 election between Republican George W. Bush and Democrat Al Gore – some media outlets projected a Gore victory in Florida while polls in the western part of the state remained open. The networks later pulled back, leaving doubt about who won and leading to a month of recounts and court battles.


If early results become public, “it can be a real problem,” said Jeff Berkowitz, a Republican strategist who runs Berkowitz Public Affairs. “For somebody who’s got seven things on their list to do that day, and if they’re already being told the election is over, are they really going to prioritize voting over the other six?”


Exit poll data is collected by New Jersey-based Edison Media Research on behalf of the National Election Pool, a consortium of Walt Disney Co’s ABC, News Corp’s Fox, Time Warner Inc’s CNN, Comcast Corp’s NBC, CBS Corp’s CBS and the Associated Press. The media companies use the findings to help them call results in each state, and to inform post-election analysis.


Reuters is not a member of the consortium and collects exit data with market research firm Ipsos. The news organization will not share any exit data before polls close, a Thomson Reuters Corp spokeswoman said.


Smaller news outlets and Internet blogs are not bound by the commitment made by members of the National Election Pool, and could post any exit poll numbers they get their hands on.


In 2004, for example, The Drudge Report posted early results that favored John Kerry. U.S. stocks dipped, and Kerry eventually lost the race, highlighting that early and incomplete results can prove wrong. A representative for The Drudge Report could not immediately be reached by e-mail.


There is no evidence that exit poll results influence voters, but the rise of social media means any leaked data could spread like wildfire.


After leaks in past elections, the big TV networks have taken steps to keep a tighter lid on information. While some findings previously were available as early as 1 p.m. Eastern time, news staff are not to be given an initial look until 5 p.m. – still two hours before the earliest poll closings.


Following a template used in the last three elections, six analysts – one from each news organization in the National Election Pool – will be locked in a “quarantine room” from 11 a.m. to 5 p.m. Eastern time on Tuesday with no phone or e-mail access, Gawiser said. They will conduct preliminary analysis of the data before it is released to staff at the news outlets.


“They cannot talk to us. We don’t know anything about it. We can’t see any of these data until five o’clock,” Gawiser said.


These kinds of restrictions helped keep exit data under wraps in 2008, when Obama defeated John McCain. The race also was not as close as in the two previous elections, or indeed this year’s vote, reducing demand for early information.


This year, the tight race and prevalence of social media increases the risk that data will spread quickly if it leaks, said Tom Rosenstiel, director of the Pew Research Center’s Project for Excellence in Journalism.


“If that were to happen today, with Internet penetration and the speed of social media, that (data) would be known pretty widely,” he said.


(Reporting By Lisa Richwine; Editing by Ronald Grover and Steve Orlofsky)


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Composer, Pulitzer winner Carter dies in NY at 103
















NEW YORK (AP) — Classical composer Elliott Carter, whose challenging, rhythmically complex works earned him widespread admiration and two Pulitzer Prizes, died Monday at age 103.


His music publishing company, Boosey & Hawkes, called him an “iconic American composer.” It didn’t give the cause of his death.













In a 1992 Associated Press interview, Carter described his works as “music that asks to be listened to in a concentrated way and listened to with a great deal of attention.”


“It’s not music that makes an overt theatrical effect,” he said then, “but it assumes the listener is listening to sounds and making some sense out of them.”


The complex way the instruments interact in his compositions created drama for listeners who made the effort to understand them, but it made them difficult for orchestras to learn. He said he tried to give each of the musicians individuality within the context of a comprehensible whole.


“This seems to me a very dramatic thing in a democratic society,” he said.


While little known to the general public, he was long respected by an inner circle of critics and musicians. In 2002, The New York Times said his string quartets were among “the most difficult music ever conceived,” and it hailed their “volatile emotions, delicacy and even, in places, plucky humor.”


Carter had remained astonishingly active, taking new commissions even as he celebrated his 100th birthday in December 2008 with a gala at Carnegie Hall.


“I’m always proud of the ones I’ve just written,” he said at the time.


In 2005, his “Dialogues,” which had premiered the previous year, was a finalist for the Pulitzer Prize in music. And in 2006, his “Boston Concerto” was nominated for a Grammy Award as best classical contemporary composition.


Carter won his first Pulitzer Prize in 1960 for his Second String Quartet; his second award was in 1973 for his Third String Quartet. The Juilliard String Quartet chose to mark its 45th anniversary in 1991 with a concert of all four Carter string quartets. A fifth quartet came out in 1995.


When the first National Medal of Arts awards were given in 1985, Carter was one of 10 people honored, along with such legends as Martha Graham, Ralph Ellison and Georgia O’Keeffe. The awards were established by Congress in 1984.


The New Grove Dictionary of American Music said that at its best, Carter’s music “sustains an energy of invention that is unrivaled in contemporary composition.”


Carter said he found Europeans more receptive to his works than his fellow Americans because music in Europe is not purely entertainment but part of the culture, “something that people make an effort to understand.”


The lack of widespread attention didn’t seem to bother him.


“I don’t think it means anything to be popular,” he said. “When we see the popular tastes and the popular opinion constantly being manipulated by all sorts of different ways, it seems to me popularity is a meaningless matter.”


In 1992, Carter said his favorite piece of music was his Concerto for Orchestra, written in 1969. It was commissioned by the New York Philharmonic for its 125th anniversary season.


“It particularly expresses a picture of the United States as an evolving world of not only people but of nature,” he said.


Among his early works were two ballets, “The Minotaur” and “Pocahontas,” and his First Symphony. His First String Quartet in 1951 started him on the road to greater critical attention.


Besides composing, Carter wrote extensively about 20th-century music. A collection of articles, “The Writings of Elliott Carter: An American Composer Looks at Modern Music,” was published in 1977.


Carter as born in New York in 1908. As a young man he became acquainted with composer Charles Ives, who encouraged his ambitions. He studied literature at Harvard and then studied music in Paris under famed teacher Nadia Boulanger, who also guided Leonard Bernstein, Aaron Copland and Virgil Thompson.


As Carter turned 100, he recalled a visit to the hall in 1924 to see the New York premiere of Igor Stravinsky’s revolutionary work “The Rite of Spring.”


“I thought it was the greatest thing I ever heard, and I wanted to do like that, too,” Carter recalled. “Of course, half the audience walked out, which was even more pleasant to me. It seemed much more exciting than Beethoven and Brahms and the rest of them.”


In 1939, he married sculptor Helen H. Frost Jones. They had one son. He is survived by his son and a grandson.


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Factbox: U.S. President Barack Obama
















(Reuters) – As the 44th president of the United States, Barack Obama, 51, signed into law a revamp of the national healthcare system and authorized the raid that killed Osama bin Laden but struggled to revive the economy and create jobs.


As the United States holds its presidential election on Tuesday, here are key facts about Obama, the nation’s first black president.













- Barack Obama has a personal background like no other president in U.S. history. His mother, Ann Dunham, was a white woman from Kansas and his father, Barack Obama Sr., was a black Kenyan who saw little of his son after a divorce when the boy was a toddler. Obama spent much of his childhood in Indonesia and then Hawaii, where he lived with his maternal grandparents.


- Obama struggled with his mixed racial background while growing up, writing in a memoir that he wondered “if something was wrong with me.” He also was troubled by the absence of his father, whom he considered a “myth,” and said that may have contributed to his use of marijuana and cocaine in his youth.


- Obama graduated from New York’s Columbia University in 1983 and worked in the business sector in New York and for a Chicago community group. In 1988 he went to Harvard Law School, where he became the first black president of the prestigious Harvard Law Review.


- Obama’s relationship with Congress has been problematic. Even when Democrats controlled the House of Representatives and the Senate, Republicans often stymied his initiatives. The situation became more difficult when tax-averse Republicans took over the majority in the House in 2010.


- In the early 1990s Obama worked in a voter registration campaign in Chicago, taught constitutional law at the University of Chicago and joined a law firm that specialized in civil rights and neighborhood development. He married Michelle Robinson, whom he met at a law firm when he was an intern and she was assigned to be his adviser.


- In his rare spare moments, the lanky Obama pursues his lifelong love of basketball with semi-regular games at an FBI gym. He also makes time for school functions and sports events of his daughters Sasha and Malia and tries to get out for an occasional “date night” with his wife.


- Obama’s political career began with his election to the Illinois State Senate in 1996 and soared in 2004 when he gave a rousing keynote address at the Democratic National Convention. In November of that year he was elected to the U.S. Senate.


- Obama won the 2008 Democratic presidential nomination by defeating Hilary Clinton, the former first lady and New York senator, and then took the presidency by beating Republican Senator John McCain. His energetic campaign was built on a theme of “hope and change” fueled by powerful oratory.


- A mood of national optimism prevailed at Obama’s inauguration on January 20, 2009, which drew an estimated 1.8 million people to the National Mall in Washington despite bitter cold. He began his presidency with a 68 percent approval rating.


- Obama simultaneously oversaw wars in Iraq, which he ended in 2011, and Afghanistan, as well as the U.S. military involvement in Libya that helped oust Muammar Gaddafi. In May 2011 he authorized the raid in which U.S. Navy SEALS killed al Qaeda leader Osama bin Laden in Pakistan – a triumph he points to as indicative of a strong national security policy.


- Obama inherited an economic crisis so persistent that it remains a threat to his re-election. Almost 800,000 jobs were lost the month he took over. In the early days of his administration, he pushed through an $ 831 billion economic stimulus package and renewed loans to automakers, even making the government a temporary part-owner of General Motors.


- The centerpiece of his domestic agenda was the Affordable Care Act, the healthcare reform law better known as Obamacare. Its purpose is to give all Americans affordable insurance and more protections but critics say it is expensive federal interference. A key aspect of the reform – requiring most Americans to get insurance or pay a penalty – survived a 2012 U.S. Supreme Court challenge.


- Obama has a reputation as a charming communicator but he also is criticized for being aloof and not building better relationships with congressional leaders. Some have questioned his preparation skills, especially after a poor performance in a presidential debate with Republican opponent Mitt Romney.


(Writing by Bill Trott; editing by Christopher Wilson)


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Fed’s Williams: Policies have aided growth without undue fallout
















IRVINE, California (Reuters) – The U.S. Federal Reserve‘s unconventional monetary policies have lowered borrowing costs and boosted growth without creating unwanted inflation, a top Fed official said on Monday, predicting the Fed’s latest round of asset-buying will exceed $ 600 billion.


The Fed will want to see sustained jobs gains and a consistent drop in the unemployment rate before it stops buying assets, making it likely the purchases will continue until “well into next year,” John Williams, president of the San Francisco Federal Reserve Bank, told reporters after a lecture at the University of California, Irvine.













The U.S. central bank’s prior round of quantitative easing totaled $ 600 billion; its first one was about $ 1.7 trillion.


The Fed began its third round of quantitative easing, known as QE3, in September, beginning with $ 40 billion a month in mortgage-backed securities and promising to continue or expand the purchases if the labor market does not improve substantially.


Although asset-buying and other non-traditional monetary policies pose potential risks, “the available evidence suggests they have been effective in stimulating growth without creating an undesirable rise in inflation,” Williams said at the lecture. “We are not seeing signs of rising inflation on the horizon.”


The policies also have not stimulated excessive risk-taking, he said.


The Fed lowered short-term interest rates to zero in December 2008, and has bought more than $ 2 trillion in long-term securities to lower borrowing costs even more.


August 2011 it moved further into unconventional territory by saying it planned to keep rates ultra-low for about two more years, a form of policy easing known as forward guidance.


In September, the Fed launched a third round of asset purchases and promised to keep rates low until at least mid-2015.


The latest asset purchase program kicked off with an initial $ 40 billion a month in mortgage-backed securities, and the Fed said it will continue or expand the program until the jobs situation improves substantially.


Unemployment was 7.9 percent last month, considerably higher than the 5 percent to 6 percent that most economists see as the norm for the U.S. economy. Inflation has averaged below the Fed’s 2 percent target over the past year.


Williams told the largely student audience that the Fed’s first two rounds of asset-buying likely shaved 1.5 percentage points from the unemployment rate. They also probably kept the U.S. economy from falling into deflation, he said.


Forward guidance has also become a key monetary policy tool, he said. The Fed’s first stab at it, in August 2011 when it promised low rates until mid-2013, pushed down borrowing costs sharply, equivalent to cutting short-term interest rates by 3/4 to 1 percentage point, he said.


Such guidance only works if the public believes the central bank will do what it says, he added.


“If the public doesn’t understand the central bank’s intended policy path, then forward guidance may not work so well,” he said.


One way for the central bank to reinforce public expectations is to buy assets on a large scale, effectively “putting its money where its mouth is,” he said. Buying assets shows the Fed is “determined to ease monetary conditions,” he said – and helps push down rates further.


Quantifying the effects of the Fed’s policies is difficult, he added, but “the presence of uncertainty does not mean that we shouldn’t be using these tools.”


Williams has been a strong supporter of the U.S. central bank’s super-easy monetary policy and is a voter this year on the Fed’s policy-setting committee.


Once it comes time to exit its super-easy monetary policy, the Fed will target a “soft landing,” raising rates and then selling the assets it has accumulated in its bid to push borrowing costs lower, Williams said.


(Reporting by Ann Saphir; Editing by Leslie Adler and Lisa Shumaker)


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