SAN FRANCISCO (Reuters) – Some Americans were left behind in the U.S. economic recovery, which treated some better than others, a top Federal Reserve official said on Monday.
In a speech on the benefits of targeted investment in small business, San Francisco Fed President John Williams did not comment on monetary policy.
He said that despite the economy “finally coming into the light at the end of the proverbial tunnel,” not everyone has benefited.
“This economic recovery hasn’t been the same for everyone.” Williams said in prepared remarks. “There are people who were left behind. There are people who were, frankly, left behind even in the best of times.”
(Reporting by Rory Carroll; Writing by Jonathan Spicer; Editing by Meredith Mazzilli)