US Fed officials aren't worried about the bloodletting in equities

The S&P 500 plunged 4.1 percent Monday, making for almost an 8 percent drop over six trading sessions since Jan 26

Federal Reserve officials played down recent turmoil in global , sounding as resolved to push ahead with gradual increases in interest rates as before the rout.

“Having a bump like this has virtually no consequence in my view of the economic outlook,” New York Fed President William Dudley said Wednesday at an event in New York. “My outlook hasn’t changed because the stock market is a little bit lower than a few days ago. It’s still up sharply from where it was a year ago.”

“That said, if the stock market were to go down precipitously and stay down, then that