Comments from NY Fed president Dudley: • Says weather likely played a role in weak recent jobs growth • Recover in housing has been very slow • Expects business spending to begin to accelerate • Consumer spending, business investment are weak areas • Drop in energy prices a good thing on balance • Recent data has surprised to the downside • June rate hike still in play depending on inflation and the labor market outlook The FOMC minutes are the highlight of the day but comments like this from a core Fed member like Dudley are more indicative of where the Fed stands today. (full story)