Fed’s Dudley: If we grew much faster than 2.0% we would have to tighten monetary policy

Additional comments crossing the wires from the FOMC member Dudley, as he continues to respond during the Q & A session at an event in Bali.

Key Quotes:

US econ growth outlook is positive

US consumption probably did not rise as much in Q2

Fed absolutely takes policy impact on EMEs into acct

Econ outlook is actually pretty positive

Don’t think 2Q housing weakness is truly real

2% growth is a satisfactory outlook

If we grew much faster than that, we would 'probably take monetary policy more aggressively'

Would like to see higher productivity growth

USD strength still having consequence for US trade

Still somewhat below 2% infl, but making progress

Still 'a bit of slack' in us labor market