Comments from NY Fed President Bill Dudley.
These are comments from the text of his speech in Minneapolis. He will answer questions from the audience and media afterwards:
- Growth appears to have "slowed sharply" in H1
- Expects growth to pick up as headwinds fade
- Trade likely to be a drag for the rest of the year
- Data suggests Q2 has been relatively muted
- Gaining confidence on inflation rising
- Inflation pickup relies on continued job gains
- Upward path of rates to be relatively shallow
- Full text of the speech
These comments are all over the place. He talks about hikes this year but laments slow growth and then says he's more confident on inflation.