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Fed Officials Differ On Direction Of Recovery

Friday, May 17, 2013 - 7:32 AM
Speaking in Portland, Ore., San Francisco Fed President John Williams forecast that the unemployment rate will fall below 7.5 percent by the end of the year as economic growth picks up. He argued that the Fed should start tapering the amount of its purchases as soon as this summer and end the program by 2014.

“There is indeed little doubt that the economy is on the mend,” Williams said.

Williams’s public remarks often carry particular weight because he is viewed as close to Fed Chairman Ben S. Bernanke and Vice Chairwoman Janet L. Yellen.

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