Federal Reserve New York President William Dudley speech is here

More comments now (from Q&A)

  • Says Yellen's message is if economy stays on current trajectory, Fed will gradually raise rates
  • Fed is proceeding cautiously because of uncertainty in rest of world
  • Fed is also proceeding cautiously because of risk management considerations

More:

  • Fluctuating USD demand does not say much about policy
  • Negative rates not on the table in US
  • Next Fed move on rates is likely to be up not down
  • Not sure benefits of negative rates outweigh risks
  • Not ruling out negative rates, but not thinking about it

He's still going ... More:

  • Fed doesn't want higher inflation without higher wages