Williams: Adjusting Fed Funds Rate 'Quite a Ways Off'

The transcript discusses the Federal Open Market Committee's (FOMC) economic projections and individual views on these projections. The focus is on the current economic issues, particularly tapering, and the effectiveness of the new policy framework introduced last year. The discussion also touches on future economic conditions and the appropriate stance of the Fed funds rate, which is still a long way off.

What is the main focus of the FOMC according to the speaker?

• Specific views of the chair

• Current tapering process

• Immediate adjustment of the Fed funds rate

• Timing of economic milestones

What was introduced last year to handle economic situations?

• A revised tapering process

• An immediate adjustment to the Fed funds rate

• A new economic milestone

• A new policy framework

What does the speaker believe about the FOMC's guidance on the Fed funds rate?

• It needs immediate revision

• It is a strong position to be in

• It is not relevant to current situations

• It is only applicable to past situations

When does the speaker suggest the discussion about the Fed funds rate will occur?

• In the immediate future

• After the tapering process is complete

• Once the economy meets certain conditions

• At the next FOMC meeting

What is the current status of the decision on the Fed funds rate adjustment?

• It is irrelevant to current discussions

• It has already been decided

• It is still far off

• It is imminent