NY Fed's Potter: New tools could make Fed more agile

• Trade offs could have an impact on liquidity management
• Fed must weigh the costs and benefits of different approaches
• New tools instill confidence that the Fed can control overnight rates
• Fed now has more tools to influence market rates
• Tools used to lift rates from near zero have gone as well as could be expected

Let's see how well the tools do to keep rates in the band. At the moment FFR futures are pricing out a June hike even further.