Positive Headline and Quote of the Day

While the market gave back some on the news highlighted below this morning, make no mistake, if Mr. Qaurles is correct in his assessment, this is unequivocally good news:

Headline:

Fed's Quarles says more rate hikes could be ahead 'at some point' as economy improves

Quote:

"....my sense is that further increases in the policy rate may be necessary at some point, a stance I believe is consistent with my optimistic view of the economy's growth potential and momentum. In the language of central banking, my estimate of the neutral policy rate remains somewhat north of where we are now."