Fed's Dudley (dove, FOMC voter): expects Fed's next rate rise this year; expects rate rise relatively soon - press interview
- Fed has not faced urgency to raise rates
- a rate rise is not aimed at slowing the economy
- there's big uncertainty over outlook limits guidance the Fed can give
- US likely to grow 2-2.5%; inflation to 2% within 2 years
- the job market still has slack; remains unsure how far jobless rate will drop
- the 10-year Treasury yield seems a little low given the economy