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The U.S. economy has "good momentum," San Francisco Federal Reserve Bank President John Williams told CNBC on Friday.
Williams predicted that the U.S. will see real GDP growth around 3 percent in 2015, and that the unemployment rate will touch 5 percent by the end of the year. Still, the central banker said he did not see the Fed hitting its inflation target until the end of 2016.

"I see us getting to full employment basically by the end of this year or before then, and in fact having a pretty strong labor market," Williams said, explaining that he assesses normal levels of employment to be about 5.2 percent.

Consequently, he predicted that wage growth and inflation would both edge higher "once we get past this period of low inflation."

Despite wage growth remaining tepid, Williams took a positive outlook.


This guy is on drugs. It doesn't take a rocket scientist to figure out that if the GDP formulation was changed in July 2010 to add a mythical 3%, we're still in Recession. It also means that he considers that we'll be to "Full Employment" based solely of people leaving the workforce. No inflation? Such is the power of mythological belief.

And, dear friend, remember Greenspan assured the world that the Reserve had all the modern tools to prevent what happened.

All it took was Democrat party legislation.

According to this CBS link, more than 92 MILLION Americans remain unemployed... but the "official" Unemployment rate is 6.3%.

http://washington.cbslocal.com/2014/05/0...of-labor-force/

For the 6.3% number to be valid and truthful, there would have to be well over ONE BILLION Americans total. We would have to have a larger population than either India or China.

Figures Lie and Liars figure.

This Administration has been flat out lying to us. King Brown has been repeating their lies and calling it opinion.

You can drink the King Brown and Obama KoolAid, or you can do the math and see how dishonest people operate.