New York Fed President William Dudley said in a speech on Friday that the Fed's monetary policy remains "quite accommodative" despite the interest rate hike in December. He added that the U.S. economy is in a good shape.

Dudley noted that the economy could handle any shocks.

"The good news is that the economy is more resilient to any shocks," he said.

New York Fed president also said that households could also handle better shocks.

"The household sector looks much better positioned today than in 2008 to absorb shocks and continue to contribute to the economic expansion," Dudley noted.

Dudley is a voting member on the Federal Open Market Committee (FOMC) this year.