San Francisco Fed President Williams spoke earlier, more now
- Right now interest rates are abnormally low
- Fed is needing to get interest rates to normal
- New normal will be abnormally low even after hiking
- Don't expect interest rates to get dramatically high
- Fed has not yet been willing to unwind balance sheet
- Yield curve slope to be more normal next several years
And, he is still going:
- I don't think the stock market is way out of whack from fundamentals