Feb. 13 (Bloomberg) -- A third round of quantitative easing in the U.S. would depend “completely” on the economy’s progress, John Williams, President of the Federal Reserve Bank of San Francisco, said in Claremont, California today.

There are no signs of U.S. inflation “taking off” and the Fed can use tools similar to what it employed in 2008 if there is a meltdown in Europe, he said.

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