Tags: Fed | Williams | Economy | Expansion

Fed’s Williams Sees Two-Track Economy With Moderate Expansion

Tuesday, 01 May 2012 12:04 PM

Federal Reserve Bank of San Francisco President John C. Williams said he expects the economy to grow at a “moderate” pace of 2.5 percent this year and “pick-up somewhat” during the next few years.

“It’s going to take a while to build up momentum,” with weakness in the housing market and reduced government spending inhibiting growth, Williams said today on a panel at a conference in Beverly Hills, California.

“We basically have this two-track economy,” with some areas like manufacturing showing signs of strength while others, such as construction, remain weak, said Williams, who votes on the policy-setting Federal Open Market Committee this year.

© Copyright 2018 Bloomberg News. All rights reserved.

1Like our page
Tuesday, 01 May 2012 12:04 PM
Newsmax Media, Inc.

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

© Newsmax Media, Inc.
All Rights Reserved