Fed's Williams says does not prefer nominal GDP targeting

SAN FRANCISCO (Reuters) - If the United States were hit by a new economic shock, the Federal Reserve could look for new ways to ease policy including targeting pre-crisis economic growth, San Francisco Fed President John William said.

But such a strategy, known as nominal GDP targeting, is not currently his preferred strategy, he told reporters after a speech here.

"Only if things are really bad" would he be looking at such an "outside-the-box policy," Williams said.

"Right now we are sticking with this tried and true approach, which is keeping inflation near 2 percent, not letting it get too much higher, not letting it get too much lower," he said.

(Reporting by Ann Saphir; Editing by Eric Walsh)