US economic news “mostly favourable” - ANZ

Research Team at ANZ, notes that the Fed Vice Chair and New York president Dudley called US economic news “mostly favourable” and cited improvement in Europe’s growth outlook.

Key Quotes

“Dudley said he’s confident that inflation will return to the Fed’s 2% target “as the labour market tightens further and the transitory factors that have held inflation down dissipate”. However, Dudley also noted that “monetary-policy adjustments are likely to be gradual and cautious, as we continue to face significant uncertainties and the headwinds to growth from the financial crisis have not fully abated”.”