Comments from the main Fed dove:

  • Hurdle is high for him to be convinced he should support earlier hike
  • Does not hurt to wait longer to hike
  • Sees US GDP growing 2.0% this year, 2.75% in 2016 and 2.5% in 2017
  • Growth outlook depends on keeping rates low until mid-2016
  • Sees unemployment at 5.3% or lower at year-end
  • Core PCE inflation seen at 1.5% at end of 2016
  • Concerned that inflation expectations not as solid as some think
  • Still a ways to go on labor market slack
  • Need more confidence on rising inflation
  • When Fed hikes, no one will be surprised

Evans is a super-dove so his comments are no surprise. I think he'd even cast a dissenting vote if the Fed hiked in September.

The Fed's George is up next and she's a hawk.