The eagle eye is among the strongest in the animal kingdom, with an eyesight estimated at 4 to 8 times stronger than that of the average human. An eagle is said to be able to spot a rabbit 2 miles (3.2 km) away. Although an eagle may only weigh 10 pounds (4.5 kg), its eyes are roughly the same size as those of a human. As the eagle descends from the sky to attack its prey, the muscles in the eyes continuously adjust the curvature of the eyeballs to maintain sharp focus and accurate perception throughout the approach and attack.
That seems to fit John Williams, who sees far ahead of the data flow:
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.
As the charts indicate, he must be “delusional”! No nominal variable is indicating an imminent risk of a pickup in inflation or, for that matter wages. And Nominal Spending is way below any reasonable trend level and growing at a significantly lower rate than the pre-recession rate. But who knows, maybe Williams’ eye muscles continuously adjust…