San Fran Fed president John Williams speaking in Singapore
- there's a way to go before Fed shrinks balance sheet
- recent inflation developments are very encouraging
- US is either at or close to max employment
- US inflation on track to rise to 2% over next 2 years
- will take at least 6 years to get balance sheet back to normal
- China growth downgrade doesn't signal a hard landing
- does not see a global crisis looming
- US recovery powered by domestic demand, not necessarily impacted greatly by other countries
As Ryan reported earlier Williams gave another upbeat assessment last week.