Fed's George speaking
Fed's Esther George is speaking on the economy and says:
- It is important to provide guidance on Fed's QE
- September statement was a message of patients on rates
- Warns that outlook has substantial risks
- New inflation framework is a tolerance for modest overshoot above 2%. It is less so a promise to engineer it
George is a nonvoting member on the Federal Reserve Board. She is going to be more of a hawk. Her comments are a little less hawkish.
