Sounds like a rehash of the FOMC statement from Fed Governor Duke. She says rates will stay low for an extended period and unemployment will remain high by historical standards this year, though declining. Substantial resource slack should keep inflation low, she says.
EUR/USD is unchanged on the remarks at 1.4417.
Expect the reflation trade to take comfort in the comments as they should support the view that emerging markets will be underpinned by a flood of cheap US credit.
