WASHINGTON — San Francisco Federal Reserve Bank President John Williams Monday night offered a bullish assessment of the impact the central bank's unconventional policies are having on the sluggish U.S. economy, citing an uptick in spending and "signs of life" in the housing sector.

In remarks prepared for delivery to the Center for Economics and Public Policy at University of California Irvine, Williams cautioned, however, that the Fed's use of measures such as large-scale asset purchases puts it in unchartered territory, with some of the consequences of its actions still unknown.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.