Fed's Evans in New York
- Supports two or three hikes in 2017
- Expects Fed rate hike path to unfold along median path
- Business investment is somewhat disappointing
- Foreign growth prospects look better than they have in awhile
- Details on US fiscal trajectory still somewhat unclear
- US labor markets have been very strong, there's room for wages to improve even more
- Downside risks seem less intense now
- Strong dollar has helped keep inflation down
- Sees more upside in the uncertainty facing the Fed
- US is pretty close to full employment
- Want to get balance sheet to long-term sustainable place
Evans is important this year because he's a voter. If he shifts towards Kashkari's thinking, that would be two dissents on the dovish side. But for now, he's not in that mindset.
