Such a trade war would destroy supply chains leading to sharp
cost increases for consumers, he said. This in turn would lead
to a drop in productivity and price rises, Williams said in the
interview published on Monday.
However, asked whether he saw a risk of such a trade war, he
said it was too soon to say.
"The reality is that it is not so serious as some headlines
suggest. But if the conflict increases there will be less
growth, more inflation and lower quality of life all over the
The removal of extraordinary measures adopted by central banks
over the last few years should be clearly communicated in
advance, he said.
"It should be repeated until people have had enough of hearing
the message," he said in the interview which was published in
Spanish adding that any changes should be gradual.
(Reporting by Paul Day; Editing by Sonya Dowsett)
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