Federal Reserve Dudley comments Feb 27 2015
A bit dovish.
More comments:
- Low US bond yields partly due to Europe, Japan
- Urges caution on how early and fast to raise rates
- Harmful if inflation expectations rise too far above 2%
- Premature to accept secular stagnation theme
His comments were in a research paper about neutral rates.
Stocks and bonds are both getting a lift as it sounds like he won't be voting for a hike in June. Dudley is right at the core of the Fed and his comments carry almost as much weight as Yellen's.
Update: Full text of the speech.