Williams, the president of the New York Fed of the United States, said that the recent economic data is very good. The economy is close to full employment. The labor market is basically in balance. Inflation has been slowly and gradually declining. Quarter 1 economic growth is abnormal due to trade issues. Monetary policy is in a good position. Policy is slightly restrictive and in a good position. Some forward-looking indicators are sending worrying signals. Trade is a particularly uncertain factor. (Golden Ten)