"There is a general presumption that we can wait indefinitely and make judgments on when we're going to move. I'm not sure the market will allow us to do that."
"Gradual is adequate, but we've got to get moving. Bond prices have got to fall. Long-term rates have got to rise. The problem, which is going to confront us, is we haven't a clue as to how rapidly that's going to happen. And we must be prepared for a much more rapid rise than is now contemplated in the general economic outlook."
"On G-20 monetary policy, the focal point must be on how-to minimize the external impact when major developed countries exit or gradually exit quantitative easing, especially causing volatile capital flows in Emerging markets, and putting pressures on Emerging-market currencies," Yi said.