Bill Dudley Fed Quotations

Like everyone, we are looking for a 25 basis point hike from the Fed and people will be looking for clues on whether that's it for the year.

Past transitions at the Fed have often been accompanied by volatile financial markets.

The problem with retaining your flexibility is you also create uncertainty. I'd be very pleased if the Fed took some new initiatives, but I'm not expecting it.

The rate of capacity utilization would have to go up pretty dramatically for the Fed to tighten.

The reason for this tremendous shift towards greater transparency is because of the growth and dominance of the capital markets. The monetary policy impulse is now driven by how the bond market, stock market, currency market react, so now it is more important that those markets understand what the Fed intends.

In our view, Fed officials are probably at least as nervous about the inflation outlook as a few months ago.

It'll depend on how the market interprets the statement and whether or not they can tell if the Fed closed the door to further hikes. If they haven't, they'll want to know how wide that crack is.