Answering reporters questions

  • Expects to see very good consumption growth 4th quarter
  • Best guide to gradual pace is fed quarterly forecasts
  • Says fed's pace of tightening to be data dependent
  • G7 central banks to be near 0 for a couple more years.
  • Sees more uncertainty about fed policy going forward
  • US consumer being supported by labor market and gas prices
  • Fed ought to be willing to pause or speed up to the data.
  • Neutral real rates are low, but not as low as 0