Fedspeak Moving Markets

Fed’s Dudley: June is definitely a live meeting.
Today, he’s clearly making the point there’s a┬ástrong sense among the FOMC members that markets were underestimating tightening probability, echoing FOMC April minutes.

Fedspeak
*DUDLEY: WILL GET BACK TO 2% INFLATION WITH ABOVE-TREND GROWTH
*DUDLEY SAYS BIGGER UNCERTAINTY IS WHAT’S GROWTH GOING TO BE
*DUDLEY: I’M PRETTY CONFIDENT WE’LL GET BACK TO 2% INFLATION
*DUDLEY SAYS LABOR MARKET SHOWING SIGNS OF WAGE PRESSURES
*DUDLEY: CORE INFLATION PRETTY STABLE DESPITE ENERGY AND DOLLAR
*DUDLEY: BECOMING MORE CONFIDENT INFLATION WILL RISE BACK TO 2%

*DUDLEY SAYS INFLATION EXPECTATIONS SHOWN STABILITY RECENTLY
*DUDLEY: MUST ALWAYS ASK IF DOING ALL WE CAN ON PAYMENT SECURITY
*DUDLEY: FED SYSTEM WAS NOT PENETRATED IN BANGLADESH BANK CASE
*DUDLEY: MANY SIGNS IN ECONOMY POINT TO SATISFYING FED GOALS
*DUDLEY: MKT PRICING OF FED HIKE ODDS WAY TOO LOW PRIOR MINUTES
*DUDLEY SAYS IT’S ALL ABOUT IF DATA EVOLVES WITH EXPECTATIONS
*DUDLEY: FED WON’T LOSE CREDIBILITY IF DATA DON’T WARRANT HIKE
*DUDLEY: FINANCIAL CONDITIONS ABSOLUTELY DO MATTER
*DUDLEY: MONETARY POLICY WORKS THROUGH FINANCIAL CONDITIONS
*DUDLEY: HOW FINANCIAL CONDITIONS EVOLVE AFFECTS POLICY STANCE

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