In brief comments Monday, Federal Reserve Bank of San Francisco President John Williams sounded an optimistic note on the economy and said he expects to see further improvement in employment as the year moves forward.
“I am very optimistic as to where the economy is going over the next couple of years,” Mr. Williams said. “We’ve gotten the national economy back to basically full strength,” he said, adding what is now a 5.5% jobless rate will likely move to 5% by year’s end.
His comments came from remarks in San Francisco, where the policy maker focused on the factors it takes to support small business owners. He didn’t comment on the outlook for short-term interest rates, but he did say “we’re finally coming into the light at the end of the proverbial tunnel.”
Mr. Williams spoke Friday in a speech that remained optimistic about the outlook despite data showing a weak start to the year. The official said then that all Fed meetings this year are eligible for rate rises, although he didn’t say when he wants the Fed to act.
Source: Wall Street Journal