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“Fairly Soon” Means “Fairly Soon”: March Odds Spike On Spate Of Super Aggressive Fedspeak

As you might have noticed, the reflation narrative got a boost after hours when comments from a CNN International interview with NY Fed chief Bill Dudley hit the wires. “'Fairly soon' means relatively near future," Dudley said, in a reference to the phrase from the FOMC minutes that had every journalist and commentator on the planet spinning hawkish headlines last Wednesday. Here are some further highlights from Dudley's interview: Most of the data are consistent with above-trend economic growth Sentiment has improved markedly, though confidence gains haven’t translated yet into spending Fed can’t overreact to every stock-market move 3% growth is possible under certain conditions Dudley's remarks followed similarly suggestive commentary from the Dallas Fed’s Robert Kaplan and San Francisco Fed President President John Williams who, in the text of a speech in Santa Cruz, California, said a March hike is "very much on the table for serious consideration."  The reaction in the dollar and rates was readily apparent: Here's Bloomberg's summary: Treasuries plunged in late U.S. trading Tuesday after comments from Federal Reserve officials raised the perceived like
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1 comment on ““Fairly Soon” Means “Fairly Soon”: March Odds Spike On Spate Of Super Aggressive Fedspeak

  1. […] the close on Tuesday, the NY Fed’s Bill Dudley and San Francisco Fed chief John Williams managed to talk up yields and the […]

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