Fed’s Williams: Sees inflation exceeding 2% for next few years

Comments from Williams on the economic outlook

• Expect jobless rate to fall to 3.5% by next year
• Above-trend growth doesn’t necessarily pose a risk at this time
• Says 3-4 rate hikes this year is the “right direction”
• Says need to keep raising rates to avoid overheating
• Confident can raise rates for next two years without hurting growth or employment

Williams upbeat, especially that comment about inflation.