The recovery’s final frontier?

John Williams

FRBSF Economic Letter, 2015

Abstract: The U.S. economy is looking quite good. Growth is on a solid trajectory, and the FOMC?s maximum employment goal is in sight. Risks from abroad are unlikely to overturn strong U.S. fundamentals. Still, the exact timing of an initial interest rate increase will depend on convincing evidence that inflation is heading back toward target. The following is adapted from a presentation by the president and CEO of the Federal Reserve Bank of San Francisco to the International Conference of Commercial Bank Economists in Los Angeles on July 8.

Date: 2015
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