Fed's Williams says need to raise rates before economy overshoots
[SAN FRANCISCO] San Francisco Federal Reserve Bank President John Williams on Friday repeated his view that the US central bank needs to reduce monetary stimulus before the economy overshoots the Fed's employment and inflation goals and the Fed has to "slam on the brakes".
An aging workforce and low productivity growth will keep the United States from growing faster than about 2 per cent annually on a sustainable basis, Mr Williams said at the Bay Area Economic Institute's annual forecast conference.
Donald Trump, sworn in as the 45th US president, has promised his economic policies will boost growth to 4 per cent.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Australia regulator flags surge in company insolvencies to 11-year high
Elon Musk stakes fortune on cult following who made him rich
Even without war in the Gulf, pricier petrol is here to stay
Philippine Coast Guard to join military drills with United States
Australia’s March employment unexpectedly falls 6,600, jobless rate ticks up to 3.8%
China education firms learn tough lessons overseas