- Tapering of asset buys due to significant improvement in outlook for jobs “could emerge before long”
- Economy still far from full employment, monetary policy needs to be accommodative
- Encouraged by recent economic data but risks lay ahead
- Economy should grow little more than 2.5% this year, about 3% next year
- Unemployment expected to fall to about 7.5% this year, about 7% next year
Pianalto is a soldier at the Fed, not a general. Treat her comments accordingly.
