Fed’s Quarles: sees further gradual rate hikes as ‘appropriate’

Fed’s Quarles has been hitting the wires in the US afternoon who sees further gradual rate hikes as ‘appropriate’.

Other comments (Live Squawk):

• Fed to be ‘very focused’ on meeting dual mandate.
• Fiscal policy expected to provide considerable momentum to growth.
• ‘Real possibility’ us econ. Could shift to higher growth.
• Recent investment data has been encouraging.
• Inflation expected to rise to target as transitory headwinds fade.
• Sees some upside risks to us economy.
• Deficit spending can have long-run negative effects.
• Still to be seen if faster growth will spur inflation.

Key notes:

• Fed: Powell to remain in the limelight - BBH
• Powell Preview: Unleashing the hawks or downing the Dollar?
• Fed: Hard to see Chair Powell flipping the policy script and lifting the USD - ING

About Fed's Keith Quarles:

Keith Quarles is a member and vice chair for supervision of the Federal Reserve Board of Governors since October 2017. His term as Vice Chairman for Supervision ends on October 13, 2021.