Fed's Williams: Shift in guidance to 'patient' was natural progression via ForexLive

Speaking on Bloomberg Radio:

• Fed is getting closer to the time to consider normalizing
• Monetary policy is data dependent
• ‘Patient' means no move in next couple meetings
• We will see inflation in 2015 well below 2%
• We are getting close to thinking about the pros and cons of raising rates
• Monetary policy acts with a lag
• Lift off will be driven by progress on jobs and outlook on inflation
• Market views on lift off timing are ‘relatively reasonable'

posted via ForexLive