More from Fed's Williams: Inflation soft last 2 months, medium-term favourable

John Williams, president of the Federal Reserve Bank of San Francisco, speaking in Singapore today.

Earlier remarks here: Fed's Williams: Fed to begin shrinking balance sheet later in 2017

More now:

• Says underlying US economic trend is very positive, confident economy continues to grow
• It's his personal view that last thing the Fed wants to do is roiling the market
• Says if there's pull-back in global trade integration, it will be pretty negative
• While there's been soft inflation data in the past couple of months, medium-term trend still pretty favourable

And more:

• 3 rate hikes this year makes sense
• Sees US GDP growth below 2% this year
• Doesn't see a reaction in markets like the taper tantrum