Fed's Williams says does not see elevated level of uncertainty

In words that echoed nearly exactly the phrasing of Fed Chair Janet Yellen on Wednesday, Williams told the Solano Economic Development Corporation in Fairfield, California, that it "makes sense" for the Fed to raise interest rates now, given the progress made in the recovery since the recession. While the Fed currently expects to be able to raise rates gradually, he said, it is "always ready to reassess" that view as new information comes in.