Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Fed’s Williams Sees Two-Track Economy, Moderate Expansion

May 1 (Bloomberg) -- Federal Reserve Bank of San Francisco President John C. Williams said he expects the economy to grow at a “moderate” pace of 2.5 percent this year and “pick-up somewhat” during the next few years.

“It’s going to take a while to build up momentum,” with weakness in the housing market and reduced government spending inhibiting growth, Williams said today on a panel at a conference in Beverly Hills, California.

“We basically have this two-track economy,” with some areas like manufacturing showing signs of strength while others, such as construction, remain weak, said Williams, who votes on the policy-setting Federal Open Market Committee this year.

To contact the reporters on this story: Caroline Salas Gage in New York at salas1@bloomberg.net; Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

To contact the editor responsible for this story: Christopher Wellisz at cwellisz@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.