In his prepared remarks delivered at the 21st Annual Bronx Bankers Breakfast, Federal Reserve Bank of New York President John Williams said that the strength of recent data on the economic activity, recovery in the Chinese economy and the rebound in financial markets suggested that near-term risks to growth had receded and added that the economy was on a path of healthy growth. “The current setting of policy positions us well to keep it that way,” Williams noted.
Commenting on the global economy, “we’re not entirely out of the woods” Williams said and noted the weakness in Japan some regions of Europe were concerning.
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