Economics
Fed’s Williams Says He Isn’t Jumping to Conclusions on Data
- Williams sees inflation on track to reach Fed’s 2 percent goal
- San Francisco Fed chief in wait-and-see mode on weak data
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Federal Reserve Bank of San Francisco President John Williams painted an upbeat picture of the U.S. economy in a on Tuesday, despite recent disappointing data that’s led investors to reduce their bets on an interest-rate increase later this month.
The economy is “in good shape and headed in the right direction,” Williams said in the text of a speech delivered in Reno, Nevada. When asked whether recent weak data on manufacturing and services and slower job growth are weighing on that assessment, he said he’s waiting to talk to his staff and Federal Open Market Committee colleagues before making up his mind.