December 19, 2014 / 6:01 PM / in 5 years

Fed's Williams sees signs of wage growth: Bloomberg Radio

San Francisco Federal Reserve Bank President John Williams speaks during an interview with Reuters reporters in the Washington bureau, October 14, 2014. REUTERS/Stelios Varias

SAN FRANCISCO (Reuters) - San Francisco Federal Reserve Bank President John Williams told Bloomberg Radio Friday that he is already seeing some signs of wage growth, a key metric for a central bank keen for some signs of an inflation pickup as it gets ready to raise interest rates next year.

Still, Williams said he fully expects core inflation - which does not include volatile oil or food prices - to be below 2 percent when the Fed begins raising rates. The Fed uses core inflation as a guidepost for where headline inflation will be a year or so in the future; its 2-percent target is for overall inflation.

Williams will rotate into a voting spot on the Fed’s policy-setting committee next year.

Reporting by Ann Saphir; Editing by Chizu Nomiyama

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