NY Fed head still speaking in China at PBOC symposium
- weakening inflation expectations are a concern
- one month of inflation doesn't make a trend
- China doing a good job pointing growth toward consumption
- optimistic that China's economic transition can be managed
- USD appreciation well justified by economic cycle
- not realistic to expect central banks to give forward guidance on moves
- central bank communication should be as clear as possible
Given that the fwd guidance by Fed and BOE amongst others has been rubbish thus far those last comments are a bit rich.
Eamonn had earlier comments from Dudley here
Fed's Dudley - A need for central banks to communicate clearly
