Reassessing the path for US monetary policy - ANZ

Analysts at ANZ noted that the Federal Reserve Governor Brainard noted overnight that soft inflation could cause her to reassess the path forward for monetary policy. 

Key Quotes:

"That’s stating the obvious."

"What was interesting was the stated tension between signs the economy is meeting the Fed’s employment objective but progress towards meeting its inflation objective may be slowing."

"When you have dual mandates but only one instrument, one mandate will dominate, and it will be inflation for a central bank."

"That is a reality that people proposing to change the RBNZ’s mandate to a dual one should be aware of."