Must-read: Tim Duy: “Dudley the Dove”

Must Read: Tim Duy: Dudley the Dove: “Bottom Line: The Fed will take a pass on the March meeting…

…Whether the statement is dovish, neutral, hawkish is the key question. Dudley opens up the possibility of a not just a neutral statement, but a dovish one. My sense is that this is shaping up to be a very contentious meeting as participants struggle with the question of exactly which data are they dependent upon.