Name: William C. Dudley

Summary: The U.S. Economic Outlook and Implications for Monetary Policy: "In sum, I still anticipate that the combination of decreasing resource slack and anchored longer-term inflation expectations will contribute to inflation rising to our 2 percent objective over the medium term. Even so, because of the more persistent effects of energy and commodity price declines and U.S. dollar appreciation, the return of inflation to that goal may be slower than I earlier anticipated. This does not deny the possibility of some upside surprise―such as a sharp upswing in wage growth triggered by low unemployment. But, on balance, I am somewhat less confident than I was before."

Lean: Dovish

Substantially Similar to Prior Statements: No

Statement Date: February 29, 2016

Publication Date: February 29, 2016

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