DALLAS May 19 The Federal Reserve is moving
toward normalizing U.S. monetary policy, and is on track to
raise rates probably some time in the next year, a top Fed
official said on Monday.
"We're actually basically moving toward normalization: this
is not a permanent shift in monetary policy," San Francisco Fed
President John Williams said at a monetary policy conference at
the George W. Bush Presidential Center.
The Fed will have wound down its massive bond-buying program
later this year, he said.
"We're thinking seriously about, the time is coming,
probably over the next year or so, when we are going to start
raising interest rates."
(Reporting by Ann Saphir; Editing by Chizu Nomiyama)