NY Fed's Dudley less hawkish than usual

Ross J Burland FXStreet

NY Fed's Dudley was hitting the wires and he said that the US economy is to grow at slightly above-trend pace, although he was certainly less dovish than previous.

He said:

Balance sheet normalization end envisioned the early 2020s
Harvey effects won't fundamentally change econ trajectory
Does not repeat expectation for a rate hike this year
Assumes bond runoff begins this year, to exert only 'modest' tightening over time
Asset valuations not particularly troublesome
Softer dollar, global growth to ease trade-sector drag

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

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