GOTEBORG, Sweden — Federal Reserve Bank of San Francisco President John Williams said Tuesday that the inevitable return of the U.S. economy to the point where monetary stimulus must be withdrawn is a particular challenge under the current circumstances.

Speaking at the European Economic Association-Econometric Society Congress in the southern Swedish city of Gothenburg, Williams said that "getting monetary policy back to normal after any cycle is difficult. This time it's going to be particularly difficult for us because we've got a number of moving parts."

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