Comments from Clarida
- 'Especially important' to monitor range of data at this stage in US rate hike cycle
- Important to see capex rebound after soft Q3
- Labor market 'robust', wage growth picking up
- Expects US growth at least well into 2019
- US economic fundamentals 'robust', GDP growth 'strong'
- Would back more hikes than expected if inflation surprised to the upside
- Expects inflation to remain anchored; watching for signs of weakness
- Risks now more symmetric, less skew to downside than before
- Rates are "much closer to the vicinity" of neutral than when hikes began in 2015
- Full text
Hawkish stuff, especially if you were looking for something dovish.
Looking around, some are trying to spin this as dovish but I don't see it. There are caveats but this isn't a guy sending out a signal that he wants to hit the brakes on hikes.
