John Williams, president and chief executive officer of the Federal Reserve Bank of New York, speaks during an Economic Club of New York (ECNY) event in New York, U.S. (Photographer: Mark Kauzlarich/Bloomberg)

John Williams Downplays Recession Fears, Stresses Flexible Fed Policy

(Bloomberg) -- U.S. central bankers said the economy is still on track for solid growth this year despite concerns in financial markets that it was heading for trouble.