New York Federal Reserve Bank President William Dudley Monday made clear monetary policymakers' focus when gauging the progress of the recovery will go beyond a month or two's worth of jobs data, and will focus more on the longer-term trend of the labor market.

Taking questions from the audience following a speech at the annual meeting of the National Association for Business Economics, Dudley also said the Fed needs to further clarify what its parameters are for keeping interest rates at historically low levels till the middle of 2015.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.