Dudley Says Fed Won’t Tighten Any Time Soon

New York Fed President William Dudley signaled on Friday the central bank won’t tighten monetary policy any time soon, even as the jobs recovery looked set to quicken. Even if the economy were to add 300,000 jobs per month, though, there would still be considerable slack in the labor market through 2012, he said. Dudley reiterated that a stronger recovery is not a reason for the Fed to reverse course. – Reuters