- Sees 'increasingly two sided' risks to economic forecast
- Gradual policy tightening likely to be appropriate
- Sees risks to overshooting on economy's growth
- US has proven relatively resilient to shocks from abroad
- Low market volatility, strong stock pries show resilience on US economy
- Modest wage pressures consistent with tightness in labor market
- Labor market could well exceed full employment in 2017
- Sees +2% GDP growth over next two quarters
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