We describe for the first time the fast dynamics of functional and effective (causal) connectivity during word reading. Independent component analysis of high-density EEG recorded during a word reading task recovered multiple sources of electrical brain activity previously identified by fMRI and PET. Results confirmed the ventral occipito-temporal cortex (vOT) as a central hub for word reading, showing a progression of theta-band (3-7 Hz) and gamma-band (30-50 Hz) phase synchronization and directed theta-band and gamma-band information flow with both early visual areas and high-level language-processing areas. These results highlight the interplay between local and long-distance neural dynamics involved at each stage of the reading process. Moreover, these measures of functional and causal connectivity dynamics may be used as a benchmark for comparison with clinical populations (e.g. individuals with developmental dyslexia), such that disturbances in connectivity dynamics may provide insight as to underlying neurological problems with language processing, and their potential remediation.