These comments don't sound like anything different from the Fed press conference. The initial reaction is stock market selling as many were hoping for a dovish shift like Waller.
I think that final line about gaps closing could be viewed dovishly as inflation shocks are likely to be more of a one-off while economic weakness tends to snowball.
FX moves have been minimal.
This article was written by Adam Button at www.forexlive.com. Read More Details
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