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Dudley: Remarks at the Economic Press Briefing on the Regional Economy
Good morning, and welcome to the New York Fed’s Regional Economic Press Briefing. Today, we will provide an update on economic conditions in the region, and then discuss the issue of regional wage inequality. As always, what I have to say reflects my own views and not necessarily those of the Federal Open Market Committee or the Federal Reserve System.1 Current Economic Conditions The Federal Reserve has pursued an accommodative monetary policy since the Great Recession to facilitate achieving our dual mandate of maximum sustainable employment and price stability. This policy stance has provided support to the ... (full story)
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Dudley reinforces Fed expectation of US inflation rebound
The Federal Reserve expects sluggish U.S. inflation to rise over the next several months while the hot labor market gets yet hotter, one of the Fed's most influential officials said on Thursday in comments that reinforce its gradual policy-tightening plan. In a speech calling on the United States to better address factors driving racial inequality of employment and income, New York Fed President William Dudley suggested the central bank was on track to raise interest rates once more and begin shedding some bond holdings this year. "Our outlook anticipates a continued moderate growth trend, with some further ... (full story)
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