Comments giving USD further slight lift, EUR/USD down at 1.2238, cable at 1.4655.
- As economy recovers, extraordinarily low rates will not be needed
- Will need to begin raising interest rates even while unemployment remains high
- Consumer activity, business spending have been surprisingly strong
- Recent European sovereign debt and banking pressures have added to uncertainty in markets
- Consumer prices have slowed quite alot, inflation expectations stable, inflation not a major problem
- Slow wage growth has the potential to crimp consumer spending for some time