A quick recap ahead of his speech:

  • Fed's Fischer: We may well be seeing first stirrings of inflation
  • Fed's Fischer: Not that far away from inflation target
  • Fed's Fischer: Sustained tightening in conditions could affect US

He's seen as a hawk but he said a 'modest overshoot' of full employment appropriate to be sure as many people as possible get jobs, full-time hours. That would argue for waiting.