Feds Meister Continues to expect gradual rate hikes this year

• Did not dissent at March FOMC is Q1 data limited.
• Fed is not behind tightening curve though there are risks in waiting
• Slightly downgraded rate hike path since December.
• Now expects bit slower US growth of 2.25 – 2.5% in 2016
• Slightly lower long term neutral rates.
• Economy has shown considerable resilience.
• Expects continued inflation rebound and wage gains
• Can expect dollar to remain strong due to US growth
• Was reasonable case at March FOMC to wait for more data
• Forestalling hikes for too long risks volatility later
• Sees inflation rising gradually to Feds 2% goal