More from San Francisco Fed President John Williams

Earlier comments are here

He is taking audience questions now

  • 80% of the drop in labor force participation is structural
  • We're seeing positive sings from the labor market
  • Number of people working part-time is still elevated
  • Student debt is enormous and has grown rapidly
  • High student debt may weigh on spending confidence
  • Lot of student debt out there may never be repaid

There isn't much to go on there from Williams, he's not telling us anything we aren't already familiar with. Which I guess means he is doing a good job as a central banker.