Rate hike makes sense sometime later this year says Fed's Williams

Fed's John Williams on MNI

• Will not raise rates at every meeting after initial lift off
• Now the lift off will be 100% driven by an improving economic outlook
• May need to run labour market a little hot to hit inflation goal
• Removing patient was the last bridge to be crossed
• All meetings including those not covered with press conferences are on the table
• We are getting to a more normal kind of reaction function

Some repetition of the comments he made yesterday but he's highlighted his casual regard for inflation with the employment comment

More out now;

• Says he's not worried about using interest rates to achieve the Fed's goals
• Overnight reverse repo facility adds certainty to Fed's ability for raise FFR
• Interest on reserves is enough to raise FFR to target
• Does not expect fed to use overnight RR for long