President of the Federal Reserve bank in San Francisco Williams speaking with reporters after his speech (earlier comments):

  • Does not see dollar strengthening at same pace as last year
  • “Considerable time” has “done its job”- says he favours keeping it in place, adjusting as needed, removing closer to lift-off
  • U.S. is on “solid path with good momentum”
  • The US should reach full employment by early 2016, may reach 2% inflation in late 2016
  • “Would worry” if Europe or Japan significantly slow down
  • “Very bad” for U.S. economy if Europe or Japan slip back into recession or deflation
  • Sees the Fed Funds rate rising gradually over next few yrs