Inzil basically said it, I think.
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Originally Posted by Haramu
Who were these white wizards? Was Tolkien just referring to the White council?
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Definitely. In LotR and in the Unfinished Tales, Gandalf speaks about this in retrospect several times, and I think in the Tale of the Years in the appendices to LotR there is specifically a mention of the Council meeting that year. So we can safely assume that this is the same thing and we can look at it as just another, "simplified" way of mentioning this: through the eyes of Bilbo, who at the point of writing had really only very vague idea what such council would be about, or perhaps making it simplified for the audience (who he might have expected to be equally uneducated future generations of hobbits, for whom the "high" matters of the "great world" would be rather alien). That much from the in-world perspective
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Did Gandalf know Sauron would soon return?
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He was afraid that it won't be so easy. I think you can see that also from the way he talks to Frodo in the beginning of LotR. He always knew Sauron couldn't be so easily destroyed.