Brainard at the Peterson Institute in Washington, DC
Policy increasingly dependent on how outlook evolves
Some tailwinds fading, including cooler global growth
Financial conditions have tightened in recent months
US economic momentum strong, as shown by labor market
Job gains well above level that absorbs new entrants
Wages picked up over past year, inflation encouraging
Good reasons to expect solid US growth in 2019
Fading fiscal stimulus likely in 2020
What's the 'near term'? I guess it's tough to finesse the message of saying you're going to hike in December but probably wait afterwards. On net, I think this still sounds that message but maybe not as loud as the market would like.
