Feds Williams: Fed needs to be move expeditiously to more neutral policy levels

Feds Williams speaking on Bloomberg TV says:

We are seeing some early signs consumers shifting spending patterns
Consumer shifting more to services
Expects spending pattern to continue this year
With very high inflation, Fed needs to focus on bringing inflation down
Labor market basically back to almost where it was pre-pandemic
Fed needs to move expeditiously to a more normal policy levels
We need to get back to more neutral level, but data will guide timeline for that
Fed needs to reverse policy actions from March 2020
Pace of rate hikes depend on path of economy, but 50 basis points at next meeting is a reasonable option
The neutral rate is still in low 2% -2.5% range
Fed has to key focus on real interest rates
We need to get real interest rates back to more normal levels by next year
Fed may need to go above the neutral rate depending upon inflation
Those decisions will be made as the economy evolves
As Fed tightenings policy, underline trend in inflation will peak soon and come down later this yearFed has to percent inflation goal, does not want to move above thatOur monetary policy tool of interest rates is suited to current imbalances in the economyWe need to get job openings down to a level consistent with maximum employmentWe can achieve a soft landingFed is in a good place with monetary policyOn the balance sheet, I do expect we will get that underway in June if we take decision in May
The US stocks futures implying a lower opening after Feds Williams as the prices drift to the downside in premarket tradingS&P index -12 pointsDow industrial average unchangedNASDAQ index -35 points