Atlanta Fed Pres.speaks in Tennesee
- Feds independence helps us make better policy
- risks are balance, tax reform is an upside risk
- watching emerging markets, citing Turkey and Venezuela
- independence of Fed is extremely important
- still favors 3 rate hikes for all of 2018
- there will be a reshuffling of global capital allocation as central banks will policy back to a more normal setting
- speed of Turkish lira's fall caught policymakers by surprise, being examined for its implications
Bostic is a voting member this year. His comments were initially a little more upbeat and hawkish (for him) but then softened as he progressed. His comments end up more in line with his more dovish bias (see 3 hikes in 2018 vs 4 by the Fed).
