Fed's Williams: Households and business are cautious about spending

Additional remarks from New York Fed President Williams are crossing the wires as he continues to speak at an event in Buffalo, New York.

Key quotes (via Reuters)

• While asset valuations are high, not signs that it is fueling the economy.
• Households and business are cautious about spending, not taking too much risk.
• Do not see significant risks yet from emerging markets, but there are ‘always risks around the world’.