PANews reported on April 3 that, according to Jinshi, New York Federal Reserve President Williams stated that the inflation and employment risks from rising energy prices have reached a "balance," and he leans towards supporting maintaining the current interest rate. Williams stated, "Monetary policy, through the actions we took last year and our current stance, is actually well-positioned to balance these risks, and that's exactly what we need to do." Williams also stated that he believes losses in private credit (non-bank lending) will not pose a systemic risk, although some investors in this sector have requested early redemptions. Williams said this is mainly due to the repricing of underlying loans. He said, "I don't think it currently poses a systemic risk to our financial system," noting that policymakers are "closely monitoring" banks' exposure. When asked if some private credit funds could be considered "too big to fail," he replied, "Absolutely not."