NY Fed's Dudley less hawkish than usual

 NY Fed's Dudley was hitting the wires and he said that the US economy is to grow at slightly above-trend pace, although he was certainly less dovish than previous.

He said:

• Balance sheet normalization end envisioned the early 2020s 
•  Harvey effects won't fundamentally change econ trajectory 
•  Does not repeat expectation for a rate hike this year  
• Assumes bond runoff begins this year, to exert only 'modest' tightening over time  
•  Asset valuations not particularly troublesome 
• Softer dollar, global growth to ease trade-sector drag