Williams, John

"Asset purchases ... we have done in these big lumps," Williams said. "The way I guess I prefer to think about it is where do we need financial conditions to be" and "how, given how much additional stimulus you may need what's appropriate amount of additional asset purchases to make."

"It would be beneficial to have an asset purchase program, if we were to do one, that had more consistency over time" and that would "allow us to adjust as the outlook changes ... as opposed to announcing an amount."