Most Fed members agree on the big issues - UOB

Analysts at UOB Group noted the recent rhetoric from New York Fed President, William Dudley (permanent voter in FOMC) who was speaking on the regional and national economy before students, faculty and community leaders at the University of Bridgeport last Friday (8 Apr).

Key Quotes:

"Said that weak overseas economic conditions pose risks to the US outlook and he believed the balance of risks to the outlook is tilted slightly to the downside. Therefore, he urged a cautious and gradual approach to rate hikes would be appropriate."

"On the March FOMC, he said the March vote showed fairly strong consensus and most members do not disagree on the big issues. He also repeated FOMC Chair Janet Yellen’s stance that the Fed does consider USD strength when setting policy rate. On the topic of China, Dudley was fairly optimistic for soft economic landing in China and he believes China GDP data is reasonably accurate."