- Timing of rate lift-off to be data-dependent
His speech is similar to one from Nov 12, where he said he doesn’t see inflation at 2% until 2018.
Updated comments to reporters:
- We are creating a risk to ourselves on the credibility of our inflation target
- Global risks on inflation and growth have gotten more gloomy recently
- Unlikely that inflation could improve enough to support at 2015 rate hike
- He expects to have the same misgivings in Dec as he had in Oct when he dissented
He makes a good point.