- FOMC Oct statement shows policy to be data dependent
Speaking in Abu Dhabi
- surveys show that inflation expectations are well anchored
- expects inflation to move up to towards Fed 2% target
- expects Fed to raise rates sometime in 2015
- sees benefit of letting economy run “slightly hot”
- tightening too early is a bigger risk than tightening too late
Dudley still in no rush for rate hike
USD suitably unfazed by the repeated rhetoric
Dudley – still in no rush
