Federal Reserve Vice Chairman Randal Quarles said Saturday that the Fed should remain predictable, gradual and transparent in normalizing monetary policy as it considers how its decisions affect the rest of the world.

"It's not going to be in the interest of anyone in the world...for us to get behind the curve in the U.S. by moderating what we think is the right course of domestic policy," he said at the annual membership meeting of the Institute of International Finance, an association for the financial industry, in Bali, Indonesia - via DJ.