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SF Feds Williams: Not concerned about GDP
• Strong consumer spending • Strength in economy • A lot of momentum • Sees 3% in 2015 • 5% employment. Full employment by the end of the year • inflation and wage growth sees moving higher. • not in a tight labor market yet. • Sees 3-3.5% wage growth in a strong economy. Not there yet. • Inflation can run low for a few months due to lower oil prices • Expects 2% inflation by end of 2016. • His views are that could see a rate liftoff by mid year • Cites that the US is getting close to full employment and that we are starting from point of extreme accommodation • Data dependent on how high ... (full story)
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