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)