Speaking at an event in Puerto Rico
NY Fed President Williams is speaking in Puerto Rico:
- right now US economy overall is in a very good place
- economists are not very good at predicting recessions
- economy is slowing down to sustainable growth rate
- he is not worried about the chance of recession as some of the private sector
- Does not see an elevated risk of recession in 2019 or 2020
- Watches the US treasury yield curve very carefully
- yield curve inversion has historically pointed to recession, but that may not be the case today
- Yield curve may reflect market views on global economy
- does not believe governments can run large deficits indefinitely without consequences
