Speaking on Bloomberg Radio.
- 1st quarter GDP always seems to be weaker.
- April jobs data another in string of good reports
- Will need to see how fed officials feel at April FOMC
- Does not want to predict what will be decided
- Fed has been consistent on go slow and their data dependent stance
- He has been concerned with inflation expectations
- Says inflation expectations, recovering is comforting
- Expects YoY inflation to come back to 2% target
- Global issues have not altered his outlook yet
- Strong job reports supports his economic outlook
- Would back rate hike if inflation expectations rise
- All meetings are live.
- Fed could use balance sheet tools if needed.
- There are some upside risks.
- Fine for inflation overshoot feds target.
- 2.2% inflation is better than 1.5%
- Global turmoil fading into the background