For release on delivery 1:00 p.m. EDT November 1, 2019  Friedrich Hayek and the Price System  Remarks by Randal K. Quarles Vice Chair for Supervision Board of Governors of the Federal Reserve System at “The Road to Serfdom at 75: The Future of Classical Liberalism and the Free Market” Ninth Annual Conference of the William F. Buckley, Jr., Program at Yale New Haven, Connecticut  November 1, 2019  I am delighted to be back in New Haven and particularly to be in the company of so many students interested in thinking rigorously about ideas.
On interest rates, can the ECB go even further? In our guidance on interest rates we have said that rates will remain at present or lower levels. So this means that interest rates are still in the tool box.