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Repeats Story Initially Transmitted at 18:23 GMT Dec 8/13:23 EST Dec 8
     WASHINGTON (MNI) - The following is a summary of significant policy
comments from members of the Federal Reserve's policymaking Federal Open Market
Committee since their last meeting on Oct. 31-Nov. 1.
     NOTE: * denotes member is an FOMC voter in 2017. ** denotes comments made
exclusively to MNI.
     INTEREST RATES
     Charles Evans (Chicago*): The data have not been strongly indicating that
we should continue with a rate increase. (Dec. 5)
     Robert Kaplan (Dallas*): From a risk management point of view, I think it
would be wise to take the next step. (Dec. 5) 
     William Dudley (New York*): There's a reasonable case for a rate hike in
December. I think if the economy stays on the same course, we'll continue to
gradually remove monetary policy accommodation. (Dec. 1)
     Janet Yellen (Chair*): We continue to expect that gradual increases in the
federal funds rate will be appropriate to sustain a healthy labor market and
stabilize inflation around the FOMC's 2% objective. (Nov. 29)
     James Bullard (St. Louis): Some of the numbers in the U.S. on the growth
side do look a little bit better, but I would still say overall we're in this
rather low(-interest-rate) regime. And that is making me think that the policy
rate is about right where it is, maybe with a little bit of upside risk. (Nov.
29)
     Neel Kashkari (Minneapolis*): If inflation keeps falling, no reason to tap
the brakes. (Nov. 29)
     Jerome Powell (Governor*): I think the case for raising rates at our next
meeting is coming together. (Nov. 28)
     Loretta Mester (Cleveland): To my mind the gradual path still remains the
appropriate path of policy and we still want to continue to take back some of
the accommodation we felt necessary to put in. (Nov. 16)
     Eric Rosengren (Boston): It is quite likely that unemployment will fall
below 4 percent, which is likely to increase pressures on inflation and asset
prices. That suggests the need to continue to gradually remove monetary policy
accommodation, which is quite consistent with market expectations of another
increase in December. (Nov. 15)
     Raphael Bostic (Atlanta): I think it will be appropriate for interest rates
to rise gradually over the next couple of years, as our policy position is still
very accommodating rather than neutral. How gradual that pace will be depends on
the strength of the incoming macroeconomic data and what it implies for the
economic outlook. (Nov. 14)
     Patrick Harker (Philadelphia*): I still have another 25 basis point rate
increase penciled in for this year, although perhaps I should say, 'lightly
penciled in.' (Nov. 12)
     John Williams (San Francisco**): In my view, one more rate increase this
year and something like three next year is the right mix of monetary policy to
best manage our two goals over the next few years. (Nov. 3)
     INFLATION
     Evans (Chicago*): I do worry that inflation expectations have not yet moved
up in a noticeable way that I think is on the path to being more consistent with
2 percent. I think that makes it more challenging to get inflation up to 2
percent. (Dec. 5)
     Kaplan (Dallas*): My team believes we're going to get to 2 percent in the
medium term. It may be slower and more uneven than people expect. There's a
headwind in terms of inflation: technology-enabled disruption. (Dec. 5)
     Dudley (New York*): I personally don't think that the fact that the
inflation rate's a little bit below 2% -- I don't think it's a huge problem.
(Dec. 1)
     Yellen (Chair*): In my view, the recent lower readings on inflation likely
reflect transitory factors. As these transitory factors fade, I anticipate that
inflation will stabilize around 2% over the medium term. (Nov. 29)
     Bullard (St. Louis): I am a little concerned that we'll send the wrong
signal in December by raising the policy rate, and that depresses inflation
expectations, and possibly cements in a lower inflation rate over the forecast
horizon. (Nov. 29)
     Kashkari (Minneapolis*): I am waiting to see where the next inflation
measures come out. If inflation keeps falling, no reason to tap the brakes.
(Nov. 29)
     Powell (Governor*): Fed "can afford to go more slowly" on raising interest
rates if below-target inflation proves persistent. (Nov. 28)
     Mester (Cleveland): I'm not as troubled by where inflation is today. I
think there's good reason to think it will back up to 2%. (Nov. 16)
     Rosengren (Boston): my own conclusion is that temporarily lower prices in
the communication sector -- along with the more restrained, but still
noticeable, response to low unemployment in these three sectors -- help explain
the recent misses in the Federal Reserve's inflation target. These findings
suggest that while inflation has been low, due to temporary factors, the pattern
of observed inflation is still consistent with SEP forecasts of a gradual rise
toward the 2% target in coming quarters. (Nov. 15)
     Bostic (Atlanta): While I'm still holding to the view that the recent
weakness largely reflects idiosyncratic noise, I'll be watching the next few
inflation reports closely for signs of a pickup. (Nov. 14)
     Harker (Philadelphia*): With a labor market this tight, inflation is likely
to reassert itself at some point. Might be in a wait and see mode if underlying
U.S. inflation is stagnated next year. (Nov. 12)
     Williams (San Francisco**): If inflation does continue to be coming in
lower than we're expecting ... then it would be appropriate for us to adjust
what we actually do. (Nov. 3)
--MNI Washington Bureau; +1 202-371-2121; email: jean.yung@marketnews.com