Fed: Dudley offered a particularly hawkish outlook - BBH
|Analysts at BBH point out that NY Fed President Dudley, who will retire in the middle of the year, offered a particularly hawkish outlook yesterday. However, it was not hawkish enough to counter market perceptions of the ECB's stance, they further add.
Key Quotes
“Dudley argued that the low present reading of inflation is offset by the outlook for continued above trend growth, the accommodative money supply growth and easy financial conditions, and the expansive fiscal policy. He warned of risks of the economy overheating in the next few years. At the start of last week, the market had discounted a little more than a 2/3 chance of a hike in March. Now it is closer to 82%, but little change on Dudley's remarks.”
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