It’s almost time for the Federal Reserve to stop holding the market’s hand. That’s the message from John Williams, president of the Federal Reserve Bank of San Francisco, who takes the helm of the central bank’s powerful New York branch on June 18. In an interview on Tuesday, he said he thinks the time is approaching to phase out forward guidance -- the nearly decade-old practice of pledging continued easy monetary policy. The strategy was used to calm investors in the depths of the financial crisis, and the Fed continues to say rates will remain below levels likely to prevail over the longer run, even as it lifts ... (full story)