Comments from NY Fed president Dudley:
- Says weather likely played a role in weak recent jobs growth
- Recover in housing has been very slow
- Expects business spending to begin to accelerate
- Consumer spending, business investment are weak areas
- Drop in energy prices a good thing on balance
- Recent data has surprised to the downside
- June rate hike still in play depending on inflation and the labor market outlook
The FOMC minutes are the highlight of the day but comments like this from a core Fed member like Dudley are more indicative of where the Fed stands today.
