Dudley: market expectations may be ‘too complacent’
New York Fed president says more than one hike will probably be needed before the end of 2017
Market expectations of how much the Federal Reserve will tighten monetary policy may be "too complacent", warned New York Fed president William Dudley on July 31.
Speaking in Indonesia, Dudley referenced expectations derived from futures prices, which priced in about one 25 basis point rate hike "through the end of 2017".
"If the incoming information validates my view of the outlook, then I believe US monetary policy will likely need to move at a faster pace than implied by futures prices
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