Former Fed Vice Chair Donald Kohn says Fed could raise interest rates as early as H1 2015 if the labor market continues to improve

In an interview with the Nikkei, former Federal Reserve Vice Chair Donald Kohn:

• Said the Federal Reserve could raise interest rates as early as the first half of 2015 2015 if the labor market continues to improve
• Says the Fed could change the wording of the September statement (if the August labor report supports it)
• Said also that the FOMC could unveil more details of the “techniques and sequencing of the exit” next month