Dudley ‘More Hopeful’ Growth Rebounding as Fiscal Drag Wanes

Federal Reserve Bank of New York President William C. Dudley said he’s “getting more hopeful” the U.S. economy is gaining strength as the drag from fiscal policy wanes.

“While growth in 2013 has been disappointing, I believe a good case can be made that the pace of growth will pick up some in 2014 and then somewhat more in 2015,” Dudley, 60, said in a speech today in Flushing, New York. “As growth picks up, I expect to see more substantial improvement in labor market conditions.”