- Fed's Dudley: neutral Fed funds rate in 2-3 pct range
Market news
31 March 2017
Fed's Dudley: neutral Fed funds rate in 2-3 pct range
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Not huge rush to tighten; economy clearly not overheating
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Increase in sentiment not yet translated into 'hard' data, Q1 U.S Gdp may be a bit weaker
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Could gradually trim portfolio perhaps later this year or in 2018
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Trimming balance sheet a 'substitute' for rate hikes; could 'pause' raising rates at that time
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Likely not at stage where there is great urgency to tighten policy
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