Comments from Dudley in an interview with the WSJ:
- Fiscal drag is lessening
- Weather makes it harder to read the data
- Q1 GDP likely to be about 2%
- ‘Corporate sector awash in cash’
- Long time to go before raising short term rates
Dudley is a ‘core’ FOMC member and his comments carry a lot of weight. So far he is reiterating the main ECB stance, mainly that the economy is improving but it’s difficult to read because of the weather.
