Williams speaks to the Australian Broadcasting Corporation
On inflation: "I haven't really changed my forecast for inflation. I still expect it to move back to 2 percent, our goal, in the next year or so, but given what we've seen in recent months, I'm watching it carefully."
Cites cell phone plan pricing as a reason for weakness, says "underlying trajectory" is good.
On economy: "The US economy is still doing -- I think on fundamentals -- is doing quite well."
Warns that excessive risks taking could be pulled back as Fed moves rates toward more-normal levels.
Warns on stock market: "I am somewhat concerned about the complacency in the market. If you look at these measures of uncertainty, like the VIX measure, or other indicators, there seems to be a priced-to-perfection attitude out there," he said. "The stock market still seems to be running very much on fumes, or is very strong in terms of that, so something that clearly is a risk to the U.S. economy, some correction there, is something that we have to be prepared for, and to respond to, if it does happen."