• Monetary policy should take the medium term view
  • Economy looking ‘really solid’ this year
  • ‘Hurdle is pretty high’ for changing taper pace
  • Now is not the time to for pulling back on taper

Williams was on CNBC. The Fed has been united on these messages.

  • Fed needs to move away from thresholds and back to verbal guidance on first rate rise.

Sounds like the Fed is feeling boxed in.