Tarullo on CNBC
- I'm not going to comment on timing of rate hikes
- ISM surveys suggest some grounds for questioning
- Labor market has basically been flat for awhile
- Consumer spending has held up pretty well
- You want to be looking at overall economic momentum
- Don't want to be backward looking on economy
- Wants to see actual evidence that inflation will rise
- Want to see evidence inflation can be sustained at 2%
- Answer to low-rate risks isn't necessarily to hike
Tarullo with a dovish push-back here. He seems firmly against a hike now and he's a governor.
