Remarks in essay describing his economic Outlook
He adds:
- waiting too long on rate hikes would increase likelihood of recession
- sees US GDP growth 2.5% to 2.75% this year
- sees US unemployment falling to 3.6% by year's end
- US is likely to make progress toward 2% inflation goal this year
- boosted to growth from tax cuts will fade in 2019 in 2020
- would be preferable at this point in economic cycle to moderate growth of government debt to GDP
- US may need to make more actively considered ways to reduce US government debt growth