Comments from NY Fed President Bill Dudley.

These are comments from the text of his speech in Minneapolis. He will answer questions from the audience and media afterwards:

  • Growth appears to have "slowed sharply" in H1
  • Expects growth to pick up as headwinds fade
  • Trade likely to be a drag for the rest of the year
  • Data suggests Q2 has been relatively muted
  • Gaining confidence on inflation rising
  • Inflation pickup relies on continued job gains
  • Upward path of rates to be relatively shallow
  • Full text of the speech

These comments are all over the place. He talks about hikes this year but laments slow growth and then says he's more confident on inflation.