Fed's Williams does not comment on economic outlook, policy

Mon May 20, 2013 5:18pm EDT

John Williams, president and chief executive of the Federal Reserve Bank of San Francisco, takes part in a panel discussion titled ''U.S. Overview: Is the Recovery Sustainable'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012. REUTERS/Danny Moloshok

John Williams, president and chief executive of the Federal Reserve Bank of San Francisco, takes part in a panel discussion titled ''U.S. Overview: Is the Recovery Sustainable'' at the Milken Institute Global Conference in Beverly Hills, California May 1, 2012.

Credit: Reuters/Danny Moloshok

(Reuters) - San Francisco Federal Reserve President John Williams did not comment on the outlook for the U.S. economy or monetary policy in an address on Monday to students graduating from the University of California, Berkeley.

Although the U.S. economy is still recovering from its worst downturn since the Great Depression, Williams told graduating economics majors at his alma mater, graduates should not hesitate to take risks, and should also give back to society through public service.

Don't be afraid to fail, he urged them in prepared remarks, and use lessons from economics class to help make decisions.

"By the way, on that economy thing... we're on it," Williams added.

(Reporting by Ann Saphir; Editing by Leslie Adler)

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