SF Fed Reserve President John Williams / MythBusters: Monetary Policy Edition.



"Groovy times" are back - or if you, dear readers remember the other lyrics of that song "Slow down you move too fast/ you gotta make the moments last/ lookin' for fun and feeling groovy" - that's just one phrase cherry-picked from a popular song.

John Williams takes off from there to address a number of topics in a recent speech.
Readers of this blog do not get the news "spoon-fed" - you need to look at the menu and decide to dig into and connect with the links provided.
How about an appetizer to whet your appetite? . . . things are looking good for employment in the services industry [government is getting bigger] while other indicators—workers who are part-time for economic reasons or the labor force participation rate, for example— have been the focus of continued concern.

Other aspects of the current discussion—and worry—about the economy and monetary policy that should be seen in context.
"The narrative of the punditry can sound alarming, and can give a false impression of what motivates monetary policymakers. Since I’m about to talk about motivations, it’s probably a good time to inject the standard disclaimer that the views expressed today are mine alone and do not necessarily reflect those of others in the Federal Reserve System."

Just one detail about employment is that more people are quitting their jobs, having confidence they can find another job, according to John Williams, while some might ask if that's the reason, or not. It might be something like from the accompanying image.
Here's the link to the John Williams whole speech >>
The Right Profile: Economic Drivers and the Outlook
a speech on 18 Feb 2016

The San Francisco Federal Reserve Bank is one of 12 districts in the U.S.
According to a report by Jana Randow   in Bloomberg Business News on 11 March 2016 @ 10:06 AM MST  
All Fed Districts Are Equal? Not When It Comes to Job Growth

District size matters, if data from San Francisco to Minneapolis are any guide

"When John Williams spoke about employment last month, the San Francisco Fed president proclaimed the return of "groovy times." He sees joblessness in the U.S. coming down to about 4.5 percent this year in a sign that the labor market has fully recovered from the Great Recession and its aftermath.
He has reason to be optimistic. In his district, payrolls have increased more than 5 percent in the past two years, about 1 percentage point more than at the national level, according to data compiled by the Dallas Fed. San Francisco is also the Fed's biggest district — home to almost one in five jobs in the U.S. at the end of 2015."
if you're John Williams, you're sitting in San Francisco and employment is growing quickly, you may be more optimistic generally about the nation than someone somewhere else," commented Raymond Stone, managing director at Stone & McCarthy Research Associates in Princeton, New Jersey.
[blogger's note" just to put things into context]