Fed's Williams: Appropriate to start b/sheet adjustment this autumn

Additional headlines from John Williams, president and chief executive officer of the Federal Reserve Bank of San Francisco, are crossing the wires, via Reuters, with the key quotes found below:

• Supports beginning to trim Fed's balance sheet 'this fall'
• Will take about 4 years to get balance sheet down to 'reasonable size'
• Jobless rate will hold just above 4% through 2018, inflation to rise to 2% within 1-2 years
• Appropriate to start balance sheet adjustment this autumn, will be ‘nice & easy’ at start