Fed looking for sharper decline in jobless rate, Williams says

The Federal Reserve is looking for a steeper decline and stronger economic growth before it will stop its latest bond-buying program, a top Fed official said on Monday.

"We need to see stronger, sustained improvement in the labor market, moving us down a sharper kind of curve in terms of unemployment," San Francisco Fed President John Williams said. The Fed is also looking for faster GDP growth and the creation of more jobs, he said.

(Reporting by Ann Saphir; Editing by Sandra Maler)