Dudley: Weather took big chunk out of Q1 GDP, but Q2 to bounce


The weather knocked about 0.5-1% off of growth in Q1, says FRBNY boss Bill Dudley - now being interviewed by Jon Hilsenrath. Dudley now expects GDP to print at under 2% in Q1, but to rebound in Q2 as things warm up.

The 6.5% unemployment rate threshold is "already obsolete" as we're just about already there and nobody expects a rate hike anytime soon. Dudley prefers the BOE's more qualitative approach where a broad range of labor market indicators are looked at.

Webcast and blog here

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Comments (1)
  • notta lackey
    , contributor
    Comments (131) | Send Message
     
    And the Fed folks said growth would pick up in the second half of all the recent years. They trust in our collective Alzheimer's to cloud our memory.
    7 Mar 2014, 11:37 PM Reply Like
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