Fed's Williams says monetary policy getting traction

SAN FRANCISCO Wed Nov 14, 2012 10:10pm EST

SAN FRANCISCO Nov 14 (Reuters) - The U.S. Federal Reserve's super-easy monetary policy is getting more traction this year than a year ago, a top Fed official said on Wednesday.

Pointing to improvements in the housing sector, San Francisco Fed President John Williams told an audience at the University of San Francisco that he's more "optimistic" that the Fed's program quantitative easing is helping the economy, rather than delivering diminishing returns as some critics have charged.

The Fed's asset purchases are still "mainly having the positive effects we want," he said.