Comments from San Francisco Fed President John Williams:

  • 2015 is going to be an interesting year in monetary policy
  • Low inflation reflects labor market not back at full strength
  • Wage and domestic price pressures to rise this year
  • Underlying momentum of US economy is good
  • Expect full US employment by end of year or early 2016
  • Global economic outlook has worsened
  • Expects 2.5-3.0% US GDP growth

On Jan 12, Williams spoke with Bloomberg and said a June liftoff is a “reasonable guess” and it “will probably be a close call” assuming that inflation doesn’t fall further.