Fed official: Strong economy nears full employment and higher interest rates

San Jose Mercury News ^ | 10/06/2015 | George Avalos

[ForYourChildren]

SAN FRANCISCO -- The U.S. economy is nearing full employment, setting the stage to ease some of the stimulus from low interest rates that's been the foundation of the nation's monetary policy, a key member of the Federal Reserve told a gathering in San Francisco on Tuesday.

"Looking forward, I expect we will reach our maximum employment mandate in the near future and inflation will gradually move back to our 2 percent goal," John Williams, president of the Federal Reserve Bank of San Francisco, said to the Urban Land Institute conference.

That could potentially point to a change in the Fed's policy of record-low interest rates that have been in place since the recession. The central bank instituted the low interest rates and other policies to stimulate the economy and encourage demand and borrowing. The strengthening economy could mean higher interest rates in the coming months, perhaps sometime in 2015.

"In that context, it will make sense to gradually move away from the extraordinary stimulus that got us here," Williams said in remarks prepared for delivery to the conference.

Williams is a voting member of the Federal Open Market Committee, which establishes targets for short-term interest rates. The committee has two more meetings in 2015.

"This is the year that we at the Fed should start the process of normalizing interest rates," Williams said.

However, that doesn't mean higher rates are a certainty, he cautioned.

[ForYourChildren]

"Fed Official: Strong economy nears full employment"

Yea, gotta love this...

[Diogenesis]

“FUll employment” .... only for criminal illegals.

[100American]

Shiny Bologna...

[Cringing Negativism Network]

Bunk.

Bring back jobs to America.

Stop selling out our own nation.

[TexasTransplant]

Well if they gonna Lie, LIE BIG

[Crazieman]

The chocolate rations were raised.

[Major Matt Mason]

"Looking forward, I expect we will reach our maximum employment mandate in the near future..."

So, does this mean that we'll soon have over 100 million people out of work? It's amazing that there guys can say these things with a straight face.

[faithhopecharity]

just how totally STUPID do these damned liars think the American people are, anyway!?

(ok... you’re right...Super-Stupid...just look at who voted these Anti-American crooks into office in the first place)

[RKBA Democrat]

I’d like some of what he’s having.

[exDemMom]

“Full employment,” really?

The decrease in the unemployment rate is not because of people getting hired; it’s because of people giving up and dropping off the unemployment rolls. I read somewhere that the employment rate is the lowest it has been since the mid-1970s. That isn’t exactly “full employment.”

[Taxman]

LIEberals LIE!

[NonValueAdded]

Bravo Sierra

[beenhereforever]

Almost everyone who hasn’t given up trying has a job:-)

[re_nortex]

Lies! Falsehoods! Commie propaganda!

The economy is in terrible shape with actual unemployment well over 25%. Gasoline prices are skyrocketing yet the domestic oil industry is on the rocks. The iconic brand of Radio Shack is closing thousands of stores. Trillions have been lost on the NYSE. All of this is the fault of one "man", pictured below. Starvation is widespread due to Mochelle's nanny-state regulation of the agricultural sector. The Republic has never been in a more miserable state since 1933.

[kalee]

Tell a lie often enough and they will start to believe it.

[Parley Baer]

This guy must of never heard of the “labor participation rate”.

[Intolerant in NJ]

Yeah - “full employment” - full of part-time and Walmart shelf-stocker jobs.....

[yadent]

The Federal Reserve members are violating their mandate-—a stable monetary system. 2% inflation per year is NOT stability. In 5 years your purchasing power will decline by 10%. 10 years, 20%. The Reserve is nothing more than a criminal cartel. Congress has the power, the RESPONSIBILITY, to correct this ‘institution’, but alas they are spineless at best, corrupt at worst.

[Eagles6]

They really do think we’re that stupid.