gdp

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1. Williams says first-half GDP growth was about 1.5 percent, well below last year's 2.5 percent pace.

   “Looking through the downs and ups in the data, growth in the first half of the year was about 1-1/2 percent, well below last year’s 2-1/2 percent pace.”

   1:39 · listen · NY Fed speeches · permalink

2. Williams says real GDP grew 2 percent in 2025 and expects that pace to continue this year.

   “Real GDP grew 2 percent in 2025 and is poised to maintain that pace for the rest of this year.”

   2:10 · listen · NY Fed speeches · permalink

3. Williams says GDP growth has been around 2 percent for the past year and a half.

   “For the past year and a half, we’ve seen solid GDP growth, at around 2 percent.”

   2:42 · listen · NY Fed speeches · permalink

4. Williams says the balance sheet has fallen from 35 percent of GDP in early 2022 to around 22 percent now.

   “Our balance sheet has fallen from the equivalent of around 35 percent of GDP, in early 2022, to around 22 percent of GDP now.”

   4:22 · listen · NY Fed speeches · permalink

5. Williams says SOMA portfolio is now $6.4 trillion or 20 percent of GDP, down from pandemic peak of $8.5 trillion.

   “Assets are now slowly growing in dollar terms, via RMPs, to maintain ample reserves and accommodate growth in the demand for Federal Reserve liabilities.”

   7:14 · listen · NY Fed speeches · permalink

6. Williams expects real GDP growth to slow considerably to just over 1 percent this year.

   “I expect real GDP growth this year will slow considerably from last year’s pace, to just over 1 percent.”

   8:43 · listen · NY Fed speeches · permalink

7. Williams forecasts GDP growth of 2 to 2.25 percent and unemployment of 4.25 to 4.5 percent.

   “Consequently, with growth around its trend pace, I expect the unemployment rate will remain in its recent range of 4-1/4 to 4-1/2 percent.”

   8:43 · listen · NY Fed speeches · permalink

8. Williams expects real GDP growth of about 1 percent in 2025.

   “As a result, I expect real GDP growth this year to be about 1 percent.”

   9:38 · listen · NY Fed speeches · permalink

9. NY Fed speeches

   “Looking ahead, I expect real GDP growth to be around 2 to 2-1/4 percent this year and over the next two years.”

   11:20 · listen · NY Fed speeches · permalink

10. Williams forecasts GDP growth of 2 to 2.25 percent with unemployment declining to 4 percent by 2028.

    “With growth running modestly above my estimate of its potential rate of 2 percent, I expect the unemployment rate to edge down very gradually to 4 percent in 2028.”

    11:30 · listen · NY Fed speeches · permalink