More from Fed's Williams: Sees one more rate hike this year (3 likely the next)

John Williams of the San Francisco Federal Reserve - speaking with reporters

• Says he sees one rate increase this year and three next year as likely appropriate
• Says he would be comfortable with starting to wind down Fed's balance sheet in September
• Says Fed has the ability to adjust course on policy changes if there were changes in economy or debt ceiling issues

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Earlier from Williams:

• Williams Q&A: Balance sheet unwind 'baked into the cake' for markets
• Fed's Williams: We need to gradually reduce monetary stimulus

And, earlier from Rosengren:

• Fed's Rosengren: Tight Labor Markets Justify Fed Plans to Keep Raising Rates