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  • FED’s Dudley calls for growth of about 2.75% in '12, but "not much higher" and sees "significant downside risks, mostly related to the stress in" EZ
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17.11.2011, 18:05

FED’s Dudley calls for growth of about 2.75% in '12, but "not much higher" and sees "significant downside risks, mostly related to the stress in" EZ

“We cannot be satisfied with the current state of the economy or the outlook for the next few years. The economy is operating far below its productive potential" - cites 9% unemployment. Fed "could do more in both directions" - eg elaborate on forward commitment to keep rates low (says it'd be desirable to talk abt econ conditions expected before rate hike) - or "we could purchase more longer term financial assets" - "it might make sense to do much of this" in MBS to impact housing and prevent disrupting Tsys mkt. Recognizes poss costs of more ease, but still favors same.”

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