- Economy growing well-below potential
- Growth somewhat slower than expected
- Some loss of momentum in labor markets in recent months
- Japan impact to moderate, gas prices slightly lower; second half should be better
- Urges credible long-term fiscal plan; warns against sharp consolidation in very near-term
- Best way to support US dollar in medium-term is is to pursue dual mandate of price stability and maximum employment
It is interesting that he chose to mention the dollar at all. That suggests to me that the Fed is heeding public concern over dollar weakness and the perceived link to inflation.