San Fran Fed president sees light at end of tunnel
John Williams sees unemployment dropping to or below 5% this year
Federal Reserve Bank of San Francisco president John Williams has reiterated his arguments for interest rate increases "starting a bit earlier", given the progress of the US economy towards the Fed's objectives.
Williams told the New York Association for Business Economics things were "looking very good on the jobs front" and unemployment, currently at 5.4%, would likely drop further by the end of the year – possibly below 5%. He is also confident inflation will return to the Fed's 2% target.
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