Federal Reserve Dudley comments Feb 27 2015

A bit dovish.

More comments:

  • Low US bond yields partly due to Europe, Japan
  • Urges caution on how early and fast to raise rates
  • Harmful if inflation expectations rise too far above 2%
  • Premature to accept secular stagnation theme

His comments were in a research paper about neutral rates.

Stocks and bonds are both getting a lift as it sounds like he won't be voting for a hike in June. Dudley is right at the core of the Fed and his comments carry almost as much weight as Yellen's.

Update: Full text of the speech.