NY Fed president Dudley says the Fed will buy more assets if the economy weakens. He sees the pace of US growth remaining disappointing.
- Will buy less if economy strengthens
- No substantial improvement in the labor market
- Benefits of new easing outweigh the costs
- Housing a bright spot
- Sees headline inflation rising before falling back
- Expects gradual pick up in economic growth
- You don’t stop pushing a car that’s stuck in the mud until it it is clearly free, not when the wheels start turning
