Dudley - Any fED Losses from Sharp Spike in Interest Rates Would Occur in Strong Recovery, Costs Modest Relative to Benefits

Fed's Dudley - need Many Months of Adding Jobs at 200,000 - 300,000 Level to Remove Slack from Economy

Dudley - need to Exit from Current Policies Could be "years Away"

Dudley - $600 Billion in Treasuries Seen Equal to Г‚вѕ Point Rate Cut

Dudley - Everyone on Fomc Understands That Higher Inflation Than preferred Level of 1-г‚вѕ to 2 Percent Is a Bad Thing