While Fed action won't instantly fix the economy, it helps speed recovery and is "the best course" toward the Fed's dual mandate, Federal Reserve Bank of San Francisco President and CEO John Williams said Friday.

"The steps the Fed has taken to boost the economy won't quickly return our economy to full strength. I know that," he told Salt Lake City community leaders according to prepared text released by the Fed. "But they can help speed the recovery and make it more secure.  I'm convinced they represent the best course to move us toward maximum employment and price stability."

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