Interest rates


Last quote about Interest rates

Richard Fisher - Federal Reserve System
If I could wear her flats, I would be saying to myself, Do I want to stay?feedback
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Oct 26 2017
The latest person who has talked about Interest rates is Janet L. Yellen: “We must keep our unconventional policy tools ready to be deployed again...The probability that short-term interest rates may need to be reduced to their effective lower bound at some point is uncomfortably high, even in the absence of a major financial and economic crisis.”. You’ll find on this page all the other quotes of Janet L. Yellen and all the other people that have spoken about Interest rates. You can select these people and their quotes by date, by name, and you can easily have access to the articles from which they originated.
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All quotes about Interest rates

Janet L. Yellen - Federal Reserve System

We have met the first challenge and have made good progress to date in meeting the

Janet L. Yellen - Federal Reserve System

The evidence strongly suggests that forward rate guidance and securities purchases – by substantially lowering borrowing costs for millions of American families and businesses and making overall financial conditions more accommodative – did help spur consumption and business spending, lower the unemployment rate, and stave off disinflationary

Mark Luschini - Janney Montgomery Scott

Clearly at the end it had everything to do with the speculation about Jerome Powell. I can't observe any other reason for why we ended up. He's viewed to be sort of an extension of (current Fed Chair) Janet Yellen by way of being a policy dove ... and, with the market loving more of the same with regard to uber-accommodative monetary policy, as more welcome than the

Robert Tipp

Powell seems more hawkish than Yellen. He's very qualified and played a lot of roles within the Fed. There's a lot of momentum for the measured approach…He could be a step much more to

William Lee

Taylor has a framework form which he formulates and implements policy, but he does it in a very flexible way by not adhering to the rules all the time. Yellen does not have such a framework for policy but is guided by models for inflation that no longer

Michelle Meyer - Bank of America Merrill Lynch

I think all of the candidates initially stick with the game plan of gradual hikes and balance sheet normalization. Warsh and Taylor would likely be less sympathetic to short-term misses in the data or weakness in financial conditions and would want to keep the hiking cycle on track. In contrast, Yellen, Powell and Cohn might be more inclined to pause if faced with uncertainty about the

Mark Luschini - Janney Montgomery Scott

Clearly at the end it had everything to do with the speculation about Jerome Powell. He's viewed to be sort of an extension of Janet Yellen by way of being a policy dove. At least that's the interpretation of his experience in history, and therefore with the market loving more of the same with regard to uber accommodative monetary policy is more welcome than the alternative, which would be the market speculating on (Trump) selecting somebody more hawkish in

Donald J. Trump

Well, it's staying at zero because she's obviously political. She's doing what Obama wants her to do. And I know that's not supposed to be the way it is, but that's why it's low. Because as soon as they go up, your stock market's going to go way down, most likely or possibly ... I believe it's a false market because money is essentially

Paul Hickey

A Taylor Fed may not follow the Taylor rule; as Yellen has shown, there's often a lot of daylight between a given Chair's preferences and actual policy in the modern Fed, and a Fed chair can have a hard time being

Alan Clarke

I still think that the unemployment rate will fall to 4.1pc by Christmas. If that happens, it will make the case for another [interest rate] hike after the November meeting [of the Bank of England's Monetary Policy Committee].feedback

Deborah J. Lucas

She is an intelligent and levelheaded individual. I trust her to make prudent decisions, particularly when it matters most, which is if there is another crisis. Continuity and experience seem especially valuable right

Charles W. Calomiris

It's not just that regulation is excessively costly and complex. It's also failing to achieve its

Julia Coronado

The economy is humming along. The markets are humming along. Given all the other stuff that's going on, why mess with that?feedback

John Stoltzfus - Oppenheimer Holdings

The personality of the chairman of the Federal Reserve is very important if you consider the great humility of Bernanke and Yellen, who have really served remarkably as public servants and highly professional economists to guide us through a very tough

Ryan Sweet - Moody's Analytics

The most continuity between Fed chairs would be Yellen to Powell. Given where we are in the tightening cycle some consistency would be welcomed by financial markets. A regime change can be a little more rattling and unnerving for

James Knightley

Warsh and Taylor might be hiking a bit more aggressively in the current

Diane Swonk

Taylor and Warsh are more cut out of the same fabric. Taylor is the economist version of Warsh, and Taylor is Warsh's

Thomas Simons - Jefferies

I actually think that today's [bond] market movements kind of suggest, the market doesn't have a firm idea. It's kind of bouncing around on rumors and headlines. I think it's because it's hard to know what the decision criteria is. Where do these guys fall on the strata? You're going to know when you

Joseph Lawler - The Washington Examiner

Departing Federal Reserve Vice Chairman Stanley Fischer on Friday called on President Trump to reappoint his boss, Janet Yellen, to stay at the helm of the central bank. He should appoint Janet Yellen,' the central banker said Friday at a World Bank conference... Janet is a safe pair of hands,' he said. Fischer did not comment on other candidates Trump is said to be considering for the post. Fischer did say, however, that while having a Ph.D. in economics is an advantage in running the Fed, it is not necessary for a smart

Martin Crutsinger - Associated Press

Federal Reserve Chair Janet Yellen on Sunday sketched a bright outlook for the U.S. economy and for inflation prospects in coming months, saying the impact of the recent hurricanes will likely slow economic growth slightly but only temporarily and should be followed by a rebound by year's end. Her comments suggested that the central bank will soon resume raising interest rates to reflect the strengthening economy. Most economists foresee the next rate hike – the third this year – coming in

Joe Manimbo

Taylor is perceived as more hawkish than Ms.(Janet) Yellen so under his potential tutelage, the central bank might lift borrowing rates more aggressively, which would bolster the dollar's

Janet L. Yellen - Federal Reserve System

Economic activity in the United States has been growing moderately so far this year, and the labor market has continued to strengthen. The terrible hurricanes that hit Texas, Florida, Puerto Rico, and our neighbors in the Caribbean caused tremendous damage and upended many lives, and our hearts go out to those affected. While the effects of the hurricanes on the U.S. economy are quite noticeable in the short term, history suggests that the longer-term effects will be modest and that aggregate economic activity will recover

Janet L. Yellen - Federal Reserve System

We continue to expect that the ongoing strength of the economy will warrant gradual increases in that rate to sustain a healthy labor market and stabilize inflation around our 2 percent longer-run objective. The biggest surprise in the U.S. economy this year has been

Janet L. Yellen - Federal Reserve System

We will be paying close attention to the inflation data in the months ahead. My best guess is that these soft readings will not

Stanley Fischer - Federal Reserve System

I think many of the qualities that Janet has - which is that Janet is a safe pair of hands and very good at explaining what she's doing, and persuading people of what she's doing - I think that's critically

Stanley Fischer - Federal Reserve System

I wish the circumstances were such that going faster was the right policy. But given the uncertainty about the inflation rate approaching the 2 percent target, we have to be more careful than full speed

Stanley Fischer - Federal Reserve System

He should appoint Janet Yellen. I'm not going to to into the rest of the

Howard Archer - IHS

The upward revision may make it modestly easier for the MPC to press ahead with an interest rate hike in November, which they seem pretty determined to do. The Bank of England has expressed concern in the past over the quality of ONS data – so this latest episode will likely fuel this. It follows pretty closely on from the delay to the retail sales data so is a second recent

Sam Bullard - Wells Fargo Securities

Given this, we suspect the financial markets will also take any hurricane-related weakness to the September employment report in stride, maintaining an elevated probability for a December Fed interest rate

Alan Ruskin - Deutsche Bank

In terms of market impact, much of the immediate market reaction to an announcement would come from is it Warsh or not because: i) Warsh is currently the favorite and so at least marginally priced in; and ii) is seen as potentially more hawkish than the other leading candidates. Bear in mind the response to Yellen and Powell in particular will be partly a reversal of any expected Warsh

Kevin Warsh

It depends on whether you like high interest rates. He's clearly a very different character than Yellen. We've been used to a cautious Fed chair under both Bernanke and

Jens Nordvig

The one thing to keep in mind, compared to Yellen, both of these candidates are more hawkish. She's been very cautious in what she's done. Both of these are names that would embrace higher rates a little quicker. The most important thing was Yellen's probability went down. We can't say if it's Powell or Warsh. Those two are the front-runners

Mel Watt - Federal Housing Finance Agency

In my view, the Council's decision represents a simple majority decision, not the two-thirds required by

Janet L. Yellen - Federal Reserve System

Since the financial crisis, AIG has largely sold off or wound down its capital markets businesses, and has become a smaller firm that poses less of a threat to financial stability. It is important to continue to monitor large nonbank financial firms to ensure that, should they encounter distress, the functioning of the broader economy is not threatened. The possibility of de-designation provides an incentive for designated firms to significantly reduce their systemic

Jim Cramer

Here's the bottom line: the 10 winners all had their individual reasons to rally, although a common theme was the expectation that they wouldn't be doing well coming into the quarter, which brought short-selling, which turned out to be as wrong, as wrong as it could get. I think the most important takeaway, though, is to stop focusing on Trump and Yellen. Instead, focus on the fundamentals and you'll catch some of these. Yes, you'll do much

Albert Edwards

Rather than admitting they are wrong, this group, who failed to predict the current economic malaise, have constructed this theory to explain why ever more stimulus is required. In particular Warsh warned that the Fed had become the slave of the S&P. He (Warsh) got a rousing reception from the BCA (Research) audience as he talked a lot of sense – in particular on how the Yellen Fed has lost its way and current policy is deeply

Janet L. Yellen - Federal Reserve System

In my view, it strengthens the case for a gradual pace of adjustments. Moving too quickly risks over-adjusting policy to head off projected developments that may not come to

Shehriyar Antia

Rates and equities have priced in the current Fed regime continuing, which is a relatively sanguine path for the economy. Any deviation from that path - or the suggestion that Yellen may not be re- appointed - causes the market to reconsider this presumption and reprice

Gennadiy Goldberg - TD Securities

He's quite a contrast to Yellen. She might be replaced by someone who's relatively more

Gennadiy Goldberg - TD Securities

He's definitely more hawkish on the spectrum. He is quite a contrast to Yellen. It does seem he is the front-runner even though it's not a sure thing he will be

Kathy Lien - BK Asset Management

The dollar is rising because the market is hopeful for some positive comments in regards to progress on tax reform from President Trump. The dollar has been trading firmly throughout the day as a result of

Mark Dowding - Bluebay Asset Management

I think the idea that Trump could be reaching across the aisle, talking about tax cuts to middle and low income households, if it comes to pass, we are talking a pretty material fiscal boost to the US economy. This sort of easy fiscal policy is why the markets are reacting the way they

Janet L. Yellen - Federal Reserve System

My colleagues and I may have misjudged the strength of the labour market, the degree to which longer-run inflation expectations are consistent with our inflation objective, or even the fundamental forces driving inflation. [We] should also be wary of moving too gradually [on higher interest rates].feedback

Casper Burgering - ABN AMRO

You see not only that demand in China is doing well, but also that in the longer term demand will increase even more from other sectors, like the electric vehicle industry. At this stage the fundamentals are very supportive of stronger

Daniel Lenz - DZ Bank

Yellen's comments gave more certainty about another rate hike by the end of the year. Further details of Trump's tax plans and whether this proceeds smoothly will be of interest -- it should be a boost to the economy and mean a generally higher bond yield

Janet L. Yellen - Federal Reserve System

We will monitor incoming data closely and stand ready to modify our views based on what we

Janet L. Yellen - Federal Reserve System

It would be imprudent to keep monetary policy on hold until inflation is back to 2 percent. Sustained low inflation such as this is undesirable because, among other things, it generally leads to low settings of the federal funds rate in normal times, thereby providing less scope to ease monetary policy to fight

Janet L. Yellen - Federal Reserve System

Without further modest increases in the federal funds rate over time, there is a risk that the labor market could eventually become overheated, potentially creating an inflationary problem down the road that might be difficult to overcome without triggering a

Harumi Taguchi - IHS

If the U.S. is going to increase its policy rate as soon as December, that is going to support the dollar, but the situation is complicated by the North Korean tensions. Even if Yellen says something positive for the markets, it might just be offset by the geopolitical

Jack Ablin

Investors should be looking out for a December hike given we don't know what happens to the Fed chair position next year. (Yellen), probably wants to be able to, knowing anyone new in that role might not feel comfortable tightening the first

Jack Ablin

It is a little bit of a relief knowing perhaps investors still believe in buying the dips even after the Fed's announcement of reduced balance sheet

George Goncalves

We're shifting the focus away from the monetary policy side of things to fiscal policy. Though Yellen will be important, it most likely will be more about any kind of good news on getting details on tax

Janet L. Yellen - Federal Reserve System

It will be up to future policymakers to decide, in the event of a severe downturn, whether they think it's appropriate to again resort to balance sheet, to adding, adding assets to a balance sheet. I have said that I intend to serve out my term as chair, and that I'm really not going to comment on my intentions beyond that. I will say that I have not had a further meeting with President Trump. I met with him early in my term, and I've not had a further meeting with

Brian Gardner - Keefe Bruyette & Woods

She's a known quantity, and there is less risk of disrupting the financial markets if the president renominates Dr. Yellen. Although President Trump is unorthodox in many ways, every president wants calm financial

Donald J. Trump

I do respect Chairman Yellen a lot. I like her and I respect her, but I haven't made that decision

Diane Swonk

I think Kevin Warsh has a very good chance. He's a former Fed governor. He was there during the crisis. He knows why they did what they did. He didn't agree with the post-crisis continual unconventional policy. He's been very critical of the Fed forecasts. If anyone is going to come in as a non-economist and be able to challenge the Fed staff, it would be

Paresh Upadhyaya

People were surprised that Yellen stuck with the script that weak inflation is transitory so there was some short-covering. Anything he says that doesn't sound dovish, the market will take it as

Ward McCarthy - Jefferies

I suspect that perceptions are changing about the possibility of Yellen returning because she continues to stick her heels in on regulatory issues. Trump wants to deregulate, and Yellen's made it clear that's a line in the sand … and she repeated that yesterday and made it clear her position was quite different than President Trump. That creates an awkward situation on both sides here. The president is going to want to appoint someone who is going to embrace his deregulatory aspirations and she may not want the job if she's going to be pushed in that

Ward McCarthy - Jefferies

If I were in her shoes, I would be disinclined to come back, not just because of the regulatory issues but because she's accomplished so much. … She finished tapering. She started rate normalization and now she started balance sheet

Janet L. Yellen - Federal Reserve System

We put in place, since the financial crisis, a set of core reforms that have strengthened the financial system. And in my personal view, it's important they remain in place. And those core reforms are: more capital, higher quality capital, more liquidity, especially in systemically important banking institutions. Stress testing and resolution plans, and those four prongs of improvements in banking supervision have really strengthened the financial

Ward McCarthy - Jefferies

What Kevin Warsh, I think, primarily represents is a change in the regulatory environment, and Kevin Warsh has been one of the harshest critics of the Fed's expansion of the balance sheet. The primary questions were he to be appointed, you'd have to wonder if the current balance sheet normalization process happens fast enough to make him

Diane Swonk

You can tweak things like the Volcker rule in your interpretation of the law, and that's where personnel-driven deregulation comes into play. It's the nuance. How much regulation. How far do we regulate? What do we consider bank capital? All of those things fall into a gray

Janet L. Yellen - Federal Reserve System

We understand pretty well what the effects are on the economy. Market participants understand how that tool is used, and it would likely be adjusted in response to shocks to the economy. That's our go-to tool. That is what we intend to

Kully Samra - The Charles Schwab

The Fed's announcement today to start unwinding the balance sheet has already been priced in by markets, but we continue to believe the Fed's 'quantitative tightening' could be the cause of some heightened volatility, especially as the impact on the real economy remains largely

Janet L. Yellen - Federal Reserve System

We take our supervision responsibilities of the company very seriously, and we are attempting to understand what the root causes of those problems are and to address them. I'm not able to discuss confidential supervisory information and not yet able to tell you, but we're committed to taking the actions we regard as necessary and appropriate to make sure the right set of controls are in place in that organization. We're working very hard on

Jason Pride

The most important thing Yellen needed to communicate to the market was that the bond sale plan and rate increases are not on

Elizabeth Warren

Janet Yellen is somebody who's gotten out there, she's talked about the importance of an economy that works well, not just for those at the top but for the rest of

Ron Sanchez

The trend in inflation has taken a downtick. I think she [Ms. Yellen] will need a little more evidence on the inflation side over the next month or two to have some conviction about moving rates in

Justin Lederer - Cantor Fitzgerald

You're basically at 50/50. The Fed I think is itching to get one more rate hike in this year, but the market has been discounting it. We'll see next Wednesday what [Fed Chair Janet] Yellen and the statement have to say about it, and there's also tomorrow's retail sales which is a big number as

Victor Jones - TD Ameritrade

I don't think the market was expecting that kind of a strength in terms of inflation. What people want is know is whether or not Yellen is going to talk about the lack of inflation as transitory, or whether it is continuing to concern them. The tone coming out of September meeting will help drive the expectations into

Steven Mnuchin

I'm working closely with the president on the issue. He hasn't made any decisions and that's one of the things he's still considering. There's a lot of good

Steven Mnuchin

I obviously will respect the confidentiality of the process and not make any comments on any specific people that the president is considering. There's a lot of good people. The chair is obviously quite talented, and she's being considered, but there's a lot of great people that we've been meeting with and considering as

Quincy Krosby - Prudential Financial

He bridges the world of a central banker but also having the market experience, which is a strong combination. Perhaps the thinking will be that someone who has Wall Street experience understands markets. The president is going to choose someone both with experience in the market and understanding of the markets. We don't know if [Yellen] wants it. She's been very discrete and many are saying that Jackson Hole could have been her swan

Quincy Krosby - Prudential Financial

There's an expression that always haunts us: When rates rise, something always breaks. Janet Yellen has been trying very hard to transition to normal monetary policy, to make sure something doesn't break. ... The question then becomes, does someone who comes in understand that and know the history of the Fed's experience in raising rates?feedback

Christopher Whalen

People who thought we were going to keep the same cast of characters around, I hope they realize now that's not the case. There's going to be a significant change. It will be far less interventionist, far less prone to

Greg Valliere

Monetary policy is going to be data dependent. If that's true perhaps the more intriguing angle is regulatory policy. That may guide his thinking on the next

Seth Carpenter - UBS

The nomination and confirmation process can be quite slow. Given the full slate of issues that the Congress has to confront (the debt limit, the budget, tax reform, inter alia) the Senate will be hard pressed to complete more than one confirmation

Greg Valliere

She's 71, and she's got a choice of maybe slowing down her pace and writing a book, or presiding over the winding down of the balance sheet with a big group of Trump appointees at the Fed. She may choose the former rather than the

Paul Ashworth - Capital Economics

Yellen and Fischer are viewed as being close and appear to share very similar views on both the monetary policy outlook and regulatory issues. Trump is keen to roll back much of the regulation put in place after the financial crisis, whereas Yellen and Fischer are staunch defenders of that regulation, arguing that it did not have an adverse impact on the economy or credit availability, but did make the financial system more

Stanley Fischer - Federal Reserve System

It has been a great privilege to serve on the Federal Reserve Board and, most especially, to work alongside Chair Yellen, as well as many other dedicated and talented men and women throughout the Federal Reserve System. During my time on the Board, the economy has continued to strengthen, providing millions of additional jobs for working

Howard Archer - IHS

While consumer credit growth is still too strong for the Bank of England's liking, July's slowdown further dilutes the case for an interest rate hike any time soon. With the economy struggling and inflation looking close to peaking, we very much doubt that there will be any interest rate hike before late 2018 – and it could well be delayed until

Zane Brown

Although the Fed's initial pace of balance-sheet slimming seems very manageable, the prospect of persistent increases in the rate of reduction could at some point produce investor concern. Regardless of investor reaction, the normalization of the Fed's balance sheet seems likely to be 'noisier' than the uneventful outcome suggested by Fed officials, and potentially a much different experience than the 'like watching paint dry' comparison offered by Chairwoman

Greg Valliere

The president demands unwavering loyalty [just ask [former FBI director] Jim Comey], and he never forgets a slight. Yet Trump got a smackdown this weekend from Gary Cohn and Janet Yellen. Yellen's prospects have slipped even further, after her full-throated defense of tough Wall Street regulations and free trade

Kathy Lien - BK Asset Management

In general, what you're seeing is a consistent tone of dollar weakness. The disappointment from (U.S. Federal Reserve Chair Janet) Yellen at Jackson Hole on Friday has carried over to trading this

Imre Speizer - Westpac Group

Markets (were) disappointed with the Yellen speech and they sold the dollar and pushed bond yields

Axel Merk

If you believe that traders were positioned for Draghi to talk down the euro, then they have to cover their

Nina Pavcnik

The backlash against globalization does not arise because people doubt trade's overall benefits. The backlash reflects that trade makes some individuals worse

Apryl Evelyn Lewis

I don't agree with the Fed's recent decisions to raise rates. But Yellen's record over the years shows that, overall, she cares about people like

Mario Draghi - European Central Bank

People are concerned whether openness is fair, whether it's safe and whether it's equitable. There is never a good time for having lax

Alan Blinder

We economists think that David Ricardo got it mostly right 200 years ago, and a lot of people think he got it badly wrong, and we haven't convinced them in 200

Janet L. Yellen - Federal Reserve System

Evidence shows that reforms since the crisis have made the financial system substantially safer. While material adverse effects of capital regulation on board measures of lending are not readily apparent, credit may be less available to some borrowers, especially homebuyers with less-than-perfect credit histories and, perhaps, some

Donald J. Trump

I have so many people, friends of mine, that had nice businesses. They can't borrow money. They just can't get any money because the banks just won't let them borrow it because of the rules and regulations in Dodd-Frank. I think she's very political and to a certain extent, she should be ashamed of

Paul Christopher

If you hear Janet Yellen say something like, Well, gee, we really don't think that lending has grown excessively,' that's a good sign for the

Art Cashin

It looks like Jackson Hole might turn out to be a duller-than-expected event. Now (Yellen) could always surprise us but I think she wants to be very careful about not disturbing the

Janet L. Yellen - Federal Reserve System

Our more resilient financial system is better prepared to absorb, rather than amplify, adverse shocks, as has been illustrated during periods of market turbulence in recent years. Enhanced resilience supports the ability of banks and other financial institutions to lend, thereby supporting economic growth through good times and

Shin Kadota - Barclays

Surprises from Jackson Hole, if any, would probably come from Yellen rather than Draghi, and any impact on the euro would come from moves in the dollar. Market expectations for a December Fed rate hike have sunk quite low and there is room for

Roberto Perli - Cornerstone Macro

When central bankers avoid a certain topic, it's often because they are comfortable with what markets are

Mario Draghi - European Central Bank

On one hand we are confident that as the output gap closes inflation will continue converging to its objective over the medium term. On the other hand, we have to be very patient because the labour market factors and the low productivity are not factors that are going to disappear anytime soon. We have not seen yet the self-sustained convergence of inflation to the medium-term objective. Therefore a significant degree of monetary accommodation is still

Paul Ashworth - Capital Economics

Fed Chair Janet Yellen's passionate defence of the post-crisis tightening of financial regulation isn't going to go down particularly well at the White House. Donald Trump has made rolling back regulation the centre-piece of his

Marc Chandler - Brown Brothers Harriman

She didn't say anything that the market wanted to know about Fed policy. It's seen the 10-year yield slip and has seen the dollar weaken. It was not that she said anything bullish for foreign currencies; it was that she didn't say anything positive for the

Chris Low

People had hoped for some excitement. The bond market is rallying with at least some people thinking (Yellen) would make the case for more rate hikes to take some steam out of the stock

Mark Haefele - UBS Wealth Management

Our current assessment of the overall risk and reward picture keeps us overweight global equities in our tactical asset allocation. Earnings and economic growth are strong enough, and central bank policy is still sufficiently loose to suggest that, in the absence of a shock, markets are likely to trend higher over the next six

Kathy Lien - BK Asset Management

Due to the uncertainty in the global markets and recent sell-off in U.S. stocks, there's no better reason than the now for Yellen and Draghi to stick to

Mark Cabana - Bank of America Merrill Lynch

I think [Yellen could] come out and suggest she sees increased risks to financial stability from easy financial conditions, similar to how some of the staff, at least at the last FOMC meeting, had noted valuation pressures have moved from notable to

Shawn Sebastian - Federal Reserve System

We have been critical of Janet Yellen. Considering the other people under consideration, there's just no

Michael Arone - State Street Global Advisors

I don't think she's going to use (Friday's) speech as her legacy, but I do think she and the Fed are concerned with what happens after they leave. [Alan] Greenspan was the 'maestro' until it fell apart, [Ben] Bernanke was credited with saving the markets but then criticized for keeping policy too easy. I think Yellen is very concerned with post-tenure bubbles popping and what will happen. Will she be a scapegoat for that?feedback

Paul Sheard - S&P Global

Financial stability is really important. If you have a financial crisis and you have financial instability, you really throw the economy into a lot of turmoil and you can't be achieving your objectives. One of her great achievements over the course of her four-year tenure was to communicate how the Fed would go about starting to unwind its balance sheet, to lay out the principles and start the process. When historians look back, that will be seen as a major achievement of her

Esther George - Federal Reserve Bank Of Kansas City

I think we should continue with the gradual rate path. While we haven't hit 2 percent, I'm reminded that 2 percent is a target over the long term, and in the context of a growing economy, of jobs being added, I don't think it's an issue that we should be particularly concerned about unless we see something

Gene Sperling

The Bernanke and Yellen Fed do deserve praise for very expansive and creative monetary policy and that there has been real policy since 2010. We should also equally recognize it doesn't mean things are good

Jeremy Klein - FBN Securities

Central bankers will begin gathering on Thursday night in one of the most highly anticipated Jackson Hole symposiums in recent memory. However, most analysts do not expect [Fed Chair] Janet Yellen or Mario Draghi to break any new ground with monetary policy when speaking at the conference. Shares should therefore regain their footing as we close out August and head into September albeit neither the Fed nor the ECB has enough sugar in the cupboard to make the medicine each will soon administer go down

Jordan Rochester

If Yellen makes this point in her Jackson Hole speech, that reinforces the likelihood that the FOMC [Federal Open Market Committee] will raise rates again at their meeting in

James Knightley

Markets expect one rise in interest rates over the next 18 months but the Fed says it expects four rises, so it could become a nasty

Ian Shepherdson - Pantheon Macroeconomics

Clearly this is a prime opportunity for Ms Yellen to tell markets that the Fed expects to keep raising rates, despite the recent run of soft core consumer price inflation numbers, because the labour market cannot be allowed to tighten much

Hiroko Iwaki - Mizuho Securities

People focus on inflation but in the Fed's minutes policy makers spend a lot of time discussing whether bond yields are too low or asset prices are too high. If Yellen questions market stability, markets will expect a tighter

Marc Chandler - Brown Brothers Harriman

I think Jackson Hole is going to be disappointing. Draghi is not going to say anything. Neither is

Greg Valliere

Cohn's probably the front-runner to replace Janet Yellen, so I can't see him voluntarily giving up an opportunity like that. I don't see him getting fired. I think he's held in high regard. It was clear to me and I think a lot of people on Tuesday that he was distressed by Trump's doubling down on the Charlottesville stuff, but I don't think it's sufficient for him to quit. I think like everyone at the White House, he's distressed about what Trump has

Robert J. Samuelson

How the Fed manages to gradually shrink its bond holdings will shape the economy — and her

Luke Hickmore - Aberdeen Asset Management

This is a clear signal that the Fed will start unwinding its gargantuan balance sheet in September. It also leaves the door open for one last rate hike in December. You get the sense that [Fed Chair Janet] Yellen would like to raise rates again this year. But inflation just doesn't support it at the moment. So the Fed needs to make a call on whether to put less stock in inflation or

Jeremy J. Siegel

I was pleased with Trump's comments about Janet Yellen. I think she's done a good job ... I think that's a good team. I think that's a good team for the Trump administration. The fact that he has actively said he is considering her, I mean I think that should be very, very positive the

Mike van Dulken - Accendo Markets

It may provide some clarity on the outlook for further rate hikes in light of recent poor inflation data, and investors are eager to know more about the timing of its balance sheet unwind, however, Yellen may again only offer crumbs with which we can ponder for the rest of the

Peter Ireland

If you see inflation running below target persistently, for so long, it's really hard to get around the idea that, despite everything, monetary policy has actually not delivered sufficient accommodation. It's a reason not to clamor for additional rate hikes on top of what we've already

Janet L. Yellen - Federal Reserve System

It's premature to reach the judgment that we're not on the path to 2 percent inflation over the next couple of years. We're watching this very closely and stand ready to adjust our policy if it appears the inflation undershoot will be

Bill Gross

The adherence of Yellen, Bernanke, Draghi, and Kuroda, among others, to standard historical models such as the Taylor Rule and the Phillips curve has distorted capitalism as we once knew it, with unknown consequences lurking in the shadows of future

Joel Kan

Treasury yields were slightly lower last week as testimony from [Fed Chair Janet] Yellen was perceived to be more dovish than expected, and as the market received data signaling weaker inflation and retail sales for June. These factors kept the 30-year fixed-contract rate flat over the

Janet L. Yellen - Federal Reserve System

I believe we have done a great deal since the financial crisis to strengthen the financial system and to make it more resilient. Some of them,

Robert Sinche - Amherst

I think it will be a delayed process. We need inflation more than anything else. The employment numbers don't matter, growth numbers don't matter. All that matters is

Ward McCarthy - Jefferies

I think this has caused some consternation not just with Janet Yellen but with other people at the Fed, as well. It does look like it's going to slow down the normalization

Viraj Patel

It is broadly a U.S. dollar-negative market as latest comments from Yellen and others suggest that interest rates will rise very gently and that is supportive for high-yielding currencies for

Paul Fage - TD Securities

Global risk appetite has been good, most major stock markets are up over the week ... thanks to a mixture of Yellen and OK growth but not threatening

Janet L. Yellen - Federal Reserve System

We need to conduct a thorough investigation to look at the full record ... We are certainly prepared to take enforcement

Sherrod Brown

Lobbyists are using the success of these reforms as proof that they should now be gutted. I'm sure that every college student you taught in your long, distinguished academic career who struggled in class would have wanted the same thing. But they, unlike our nation's largest banks, would have been too embarrassed to ask their

Janet L. Yellen - Federal Reserve System

It is challenging to move productivity growth up that much, but I hope that Congress and the administration will focus on changes that will succeed in accomplishing

Elizabeth Warren

How could removal of these board members not be warranted given the facts that we already know? Can you explain to me how the Wells board can possibly have satisfied its obligations under the Fed's risk management regulations?feedback

Janet L. Yellen - Federal Reserve System

Of course, considerable uncertainty always attends the economic outlook. There is, for example, uncertainty about when – and how much – inflation will respond to tightening resource utilization. Possible changes in fiscal and other government policies here in the United States represent another source of

Janet L. Yellen - Federal Reserve System

The behavior that we saw was egregious and unacceptable and it is our job to understand what the root causes are of those failures. We are certainly prepared to take enforcement actions if those are appropriate. I haven't really decided that

Art Cashin

Finding a health-care bill that was not dead on arrival gave them the feeling not so much about health care but that maybe tax reform might have some life if these guys can get close to agreeing on health

John Manley

She's aware of the inflation risks, she's aware of the deflation risk, she's aware of the asset bubble

Art Cashin

We started out with a bounce in the morning hoping that Yellen would bring another box of candy to the game. When she failed to do that, the market pulled

Kathy Lien - BK Asset Management

Yellen gave some hope to the dollar bulls with her acknowledgement of the improvements in the economy, but at the end of the day investors are still skeptical of what data is going to be like. That's why you have not seen much in the way of additional follow through in dollar

Janet L. Yellen - Federal Reserve System

There are shocks that impact the economy, and a negative shock could end the expansion. But I don't see anything inherent in the nature of the expansion that suggests it will come to an end anytime

Elizabeth Warren

If bank directors that preside over the firing of thousands of employees for creating millions of fake accounts can keep their jobs, then I think every bank director in this country knows that they are bulletproof. You have the power to change the culture on Wall Street. I know you care about this issue. I hope you will use that

Janet L. Yellen - Federal Reserve System

In the last five years, productivity growth has averaged a half percent. The last decade, something like 1.1

Janet L. Yellen - Federal Reserve System

I will say that the behavior that we saw was egregious and unacceptable. We do have the power if it proves appropriate to remove directors. A number of actions already have been taken. We need to conduct a thorough investigation to look at the full record to understand the root causes of the problems. We are certainly prepared to take enforcement actions if those prove to be

Janet L. Yellen - Federal Reserve System

Spending on health care is an important aspect of household budgets, and changes there could have an affect on spending on a wide range of goods and services in the economy. And access to health care is

Elizabeth Warren

Here's what worries me. Time after time, big banks cheat their customers, and no actual human beings are held accountable. Instead there's a fine, which is ultimately paid for by shareholders, not by executives and certainly not by directors of the

Janet L. Yellen - Federal Reserve System

Ongoing job gains should continue to support the growth of incomes and, therefore, consumer spending; global economic growth should support further gains in US exports; and favorable financial conditions, coupled with the prospect of continued gains in domestic and foreign spending and the ongoing recovery in drilling activity, should continue to support business investment. These developments should increase resource utilisation somewhat further, thereby fostering a stronger pace of wage and price

Janet L. Yellen - Federal Reserve System

Monetary policy is not on a pre-set course. We're watching it very closely and stand ready to adjust our policy if it appears that the inflation under-shoot will be

Bas Van Geffen - Rabobank

It mostly seems to be down to Yellen, . The fact that it seems like the Fed is going to take it slowly is being seen as a good sign by the equity markets and by the currency

Jared Bernstein

A study from the Federal Reserve underscores the importance of full employment for minority

Ethan Harris - Bank of America Merrill Lynch

The story here is we've had this big slowdown in the auto industry, which I think is legitimate. The auto industry has been driving sales aggressively with subprime lending and leasing agreements. They've pulled sales forward. I think the sector is peaking. It's the only major cyclical part of the economy that's cooled off. I don't think it's a sign of a broader weakening in the economy. I think it's specific to

Art Cashin

It's going to be important with the Fed sitting on their hands. How are the banks doing, without help from the yield curve?feedback

Art Cashin

People are discussing it. That gave people hope. The mere fact it wasn't dead on arrival gave some people hope for tax

Michael Crapo

I regularly hear from Idaho businessmen and women who are concerned about access to loans that would create jobs and build a healthy

Bart Wakabayashi - State Street

The overall assessment is that Yellen sounded dovish, but perhaps this was a result of her attempt to assuage too many concerns at once. Our data suggests that U.S. inflation is actually picking up again. The Fed appears to still be in a position to continue hiking

Mike van Dulken - Accendo Markets

Calls for a flat open are at odds with a positive US close and follow a mixed session in Asia overnight. While a less hawkish testimony from Fed Chair Yellen gave markets a boost yesterday, by inspiring hope of cheaper money for longer, USD weakness since has offered mixed blessings. FX hindrance could thus dent the FTSE today as GBP/USD extends its rebound to $1.29, weighing on London-listed stocks with an international reliance. However, remember also that a weaker USD also represents a benefit for the key commodity space, namely oil and

Yoshihiro Okumura

When market's volatility is low, investors look to small-to-mid cap stocks after giving up chasing large cap stocks

Kathy Lien - BK Asset Management

Investors have been skeptical of the Fed's hawkishness in the days leading up to Janet Yellen's testimony and when she failed to sufficiently emphasize the improvements in the economy, the dollar U-turned as the bulls abandoned their trades

Janet L. Yellen - Federal Reserve System

Because the neutral rate is currently quite low by historical standards, the federal funds rate would not have to rise all that much further to get to a neutral policy stance. Because we also anticipate that the factors that are currently holding down the neutral rate will diminish somewhat over time, additional gradual rate hikes are likely to be appropriate over the next few years to sustain the economic expansion and return inflation to our 2 percent

Keith Bliss - Cuttone & Company

I think what Chair Yellen said today was basically the Goldilocks testimony where she gave salve to maybe anybody who's thinking the economy is not tracking well or that they were going to raise rates quicker than they've said or they were suddenly going to unleash all the bonds onto the bonds on the

Peter Boockvar - The Lindsey Group

The Goldilocks interpretation of today's Fed statement I think was a bit overdone. I don't know what the market interpreted as new. She said nothing new. It just shows you that the market is still obsessed with an easy Fed. As much as it has shrugged off the rate hike at the end of the year, they still like an an easy Fed. But she is still tightening the balance sheet. I think it's a much bigger

Peter Boockvar - The Lindsey Group

CPI core was above 2 percent for like 15 months in a row and the irony is the Fed never tightened through that. I think food prices all of a sudden could replace energy prices as an influence on headline

Jack Ablin

The consensus is the Fed is wrong, and maybe the Fed is right this time. I think they're viewing the balance sheet reduction and rate hike as the same

John Briggs - NatWest

She took a very small step acknowledging it might not just be transitory factors. They're watching it

Jack Ablin

This isn't a meteor coming from outer space. This is a self-contrived thing. I'm worried that a lot of the gains in growth can be directly attributed to the trillions of dollars the central banks printed and funneled into the market, but at the same time I don't think it's a foregone conclusion they're going to close up shop and sell

Jim Vogel

People are going to be very anxious if that was just a statistical glitch ... or if it is going to

Janet L. Yellen - Federal Reserve System

To my mind, a prudent course is to make some adjustments as long as our forecast is that we're heading back to

Janet L. Yellen - Federal Reserve System

What I previously said is that I absolutely intend to serve out my

Elon Musk - Tesla Motors

Over time I think we will probably see a closer merger of biological intelligence and digital

Janet L. Yellen - Federal Reserve System

Wages and jobs of middle class families that have seen diminishing opportunities and downward pressure on middle class wages, we have to take effect of the technological change that have eliminated middle income jobs and globalization that has reinforced the impact of

Janet L. Yellen - Federal Reserve System

For many years, many American companies have been sitting on a lot of cash and have been unwilling to undertake investment in the scale we would ideally like to

Jim Iurio - TJM Institutional Services

After months of talking tough on rates it appears that Janet Yellen has changed her tune. My belief is that the original hawkishness was contingent on a belief that pro growth policy changes were right around the corner. However, this takes away one of stock markets primary worries, that the Fed would raise rates before the political landscape could be sorted out. In other words, this is a long way of saying the Fed's got your

Quincy Krosby - Prudential Financial

There seems to be a resurgence of the tug-of-war within the Fed regarding the rates trajectory. At here [June] press conference, she indicated that the bar to keep rates lower for longer was higher. Now it seems like that may

Mark Grant - Hilltop

We are not in a normal world. We have the central banks in all over the world – Japan, ECB, even our own Fed – with the $4.5 trillion balance sheet. There is no normalcy. This is not normal, and I don't know why the Fed is talking about

Christine Lagarde - International Monetary Fund

There may, one day, be another crisis. I plan on having a long life and I hope she (Yellen) does, too, so I wouldn't absolutely bet on that because there are cycles that we have seen over the past decade and I wouldn't exclude that. Where it will come from, what form it takes, how international and broad-based it will be is to be seen, and typically the crisis never comes from where we expect

Hirokazu Kabeya - Daiwa Securities Group

Yellen's testimony is the biggest focus. I don't expect shares to move much in either direction ahead of

Hiroko Iwaki - Mizuho Securities

The e-mails look pretty bad but then again they don't look like decisive evidence (for illegal behaviour) either. I doubt this alone would lead to a risk-off market. I would think Brainard was in a way speaking for Yellen. It seems like the Fed is becoming cautious about rate

Jim Vogel

Yellen's congressional remarks reminded traders that inflation's path higher remains an uncertainty in the Fed's rate

Janet L. Yellen - Federal Reserve System

A strengthening in economic growth abroad has provided important support for U.S. manufacturing production and

Janet L. Yellen - Federal Reserve System

Such prescriptions cannot be applied in a mechanical way. Their use requires careful

Tomoaki Shishido - Nomura Securities

Yellen has indicated after the June policy meeting, in the clearest way as possible by her standards, that she plans to start balance sheet reduction and there will be one more rate hike this year. Since then, there's been no big changes in the economy. I would think the U.S. CPI data on Friday could be more important. If the Fed's assessment that the softness in CPI between February and May is transitory, the Fed will go ahead with its plan. If that's not the case, some Fed policymakers will want to revise that

Ethan Harris - Bank of America Merrill Lynch

It's no pain, no problem. My personal view is that will be challenged down the road. Right now the markets have gotten used to the idea the Fed doesn't follow through...I think the market in a sense is saying it's not sure anything is going on here...I think there's going to be some meeting in the middle, where the markets, the bond market in particular, starts to feel a little bit of pain, some of which we've seen in the last week or so as yields began to

Thomas Simons - Jefferies

You look at the futures market and the probability [of a rate hike this year] is low. It's 12 percent for September and December is 54

Thomas Simons - Jefferies

You don't get a full pricing in of a rate hike until May, 2018. People would say there is not one priced in until June. I think Yellen is going to try to disabuse us of this notion tomorrow. If she repeats what she said [after the June meeting], you can throw away all the dovish talk we

Ethan Harris - Bank of America Merrill Lynch

There's no reason for her to change her tune. They laid out the story pretty clearly. Their view, and I think it was confirmed by the jobs number is: 'We have a strong jobs recovery going on. We're either at full employment or we're likely to be at full employment shortly. The job market shows no signs of slowing down. Even if core inflation readings look a little weak for a couple of months, ultimately that will change.' I think that's the basic message. The labor market trumps the inflation

Masafumi Yamamoto - Mizuho Securities

Normalisation of monetary policy in the coming months is almost priced in, and the Fed will start shrinking its balance sheet in September, and this does not necessarily mean a delay of rate hikes, . This is supporting the dollar as a positive factor, and limiting its downside at the moment. I think Yellen will confirm that rate hikes are coming, and that balance sheet shrinkage will

Tim Brown

If the (Yellen) commentary is a little more hawkish, it's going to put a little more pressure on gold again and going by previous FOMC minutes, it's probably going to be. A lot of it has already been priced

Koji Fukaya - FPG Securities

The main focus is whether Yellen makes it clear in Congress that the Fed intends to begin winding down quantitative easing. Once the intent is shown in front of Congress, the next step would be to actually follow through with

Jeremy Klein - FBN Securities

The economic calendar goes dark until later this week. Although Janet Yellen will march up the steps of Capitol Hill on Wednesday, the Chairman will likely not add any new pieces to the current monetary policy puzzle. Hence, portfolio managers have started to shift their focus to the upcoming earnings

Jim Cramer

This is nirvana for banks. This rate rise makes it ... so easy for Janet Yellen. It makes it so JPMorgan, you got to go to a $100 price target. ... It's going to have a remarkable

Ward McCarthy - Jefferies

The Fed has made it very clear their focus is not that narrow. Yes, the Fed would like to see wage growth accelerate…the average hourly earnings is not going to change their view on inflation. [Janet] Yellen and Bill Dudley and the minutes made it clear they have dismissed the transitory factors that are subduing

Jim Cramer

I think the economy is OK. I think that inflation is lower than they want. They definitely want to get off the emergency. I think that the Fed is kind of – it's in a unique place. It can take a lot of action and not hurt the stock market. It can move and people will continue to buy the

Jim Cramer

That rotation out of tech, I think it had much more to do with a markup that existed until the week before of a serious markup of everything internet of things, everything video games, everything of artificial intelligence and not social media and not web

Janet L. Yellen - Federal Reserve System

We're not targeting financial conditions. We're trying to generate paths for employment and inflation that meet our mandated

Howard Archer - IHS

It may be that the heightened squeeze on consumer purchasing power is increasing the need for some consumers to borrow. The Bank of England will be far from happy with the May consumer credit data, and it could bolster the case for a near-term interest rate hike to try to curb consumers' readiness to

Janet L. Yellen - Federal Reserve System

We think it will be appropriate for the attainment of our goals to raise interest rates very gradually to levels that are likely to remain quite low, although there is uncertainty about this, to remain low by historical standards for a long

Simon Quijano-Evans - Commerzbank

It's a combination of Draghi and the Yellen comments – Draghi pushing up U.S. Treasury yields and Mrs Yellen highlighting stretched risky asset

Patrick Harker - Federal Reserve Bank

I still see another rate hike as appropriate for 2017, having already implemented two this

Janet L. Yellen - Federal Reserve System

I would say that I've got a good working relationship [with Mnuchin]. I've found solid respect for the independence of the

Howard Archer - IHS

The risk to financial stability coming from the recent rapid growth in consumer credit would undoubtedly be magnified if there is a near-term interest rate hike. While any interest rate hike would be small with further increases some way off, even small increases could cause problems for some consumers given their high borrowing

Kaneo Ogino

Hedge funds are already selling yen this week, and positive comments from Yellen could give them an excuse to sell even

Masashi Murata - Brown Brothers Harriman

Even after the break of the 112 level, the dollar didn't show any strong upward

Stephen Gallo - BMO Capital Markets

The market continues to call the Fed's bluff on its intentions to change rates. I don't think anything (Fed chair) Janet Yellen can say this week will change that. We were saying buy dips in cable and euro (against the dollar) last week. We still look for the same this

Thierry Albert Wizman

We'll know more from Yellen tomorrow. Traders are still split on what the Fed is going to

Jeremy Stretch - CIBC World Markets

I think that the burden of proof for the dollar (to appreciate) is pretty high. Even if there isn't going to be any outright criticism of Yellen, if you don't think U.S. (10-year government bond) yields are going to be above 2.20 per cent then it is tough to buy into

Janet L. Yellen - Federal Reserve System

We want to keep the expansion on a sustainable path and avoid the risk that ... we find ourselves in a situation where we've done nothing, and then need to raise the funds rate so rapidly that we risk a recession. But we are attentive to the fact that inflation is running below our 2 percent

Josh Bivens - Economic Policy Institute

Today's decision seems to indicate that the Fed is on autopilot to raise rates, regardless of what the data argue. This will lead quite soon to a pronounced slowdown in economic activity and job growth, and could essentially mean that we never manage to achieve genuine full employment or give American workers a real chance at sustained, durable wage

Janet L. Yellen - Federal Reserve System

Our decision reflects the progress the economy has made and is expected to

Janet L. Yellen - Federal Reserve System

It's important not to overreact to a few readings, and data on inflation can be noisy. We continue to feel that with a strong labour market and with a labour market that's continuing to strengthen, the conditions are in place for inflation to move

Jim Cramer

Instead, while you may have heard that [Yellen] could cool the housing market with this hike, ... then why did the housing stocks rally, with many of them hitting their highest levels since 2007, before the Great Recession? Why did Home Depot, the most housing-sensitive retail stock, soar? Because, at least for now, this rate hike a

Jim Cramer

The S&P and Dow hit an all-time high yesterday, and the Dow hit another one today. That seems like a pretty good argument for why we should've been down big on today's rate hike, especially given how weak consumer spending has been and how tepid the overall growth rate is. But she's judged it correctly: a non-event that produced a little buying and a little selling is really an apt description of what happened in the wake of her

Jim Cramer

I didn't hear a soul come out today and mention how right Yellen's been and how wrong everyone else has been about factoring [in] the Trump effect. She's been right as rain about what was going to happen and she gets zero credit whatsoever for engineering this soft path out of the economic emergency

Art Cashin

[Yellen] was [overly optimistic] based on the data today. I don't see them moving again this year, unless things improve

Ian Shepherdson - Pantheon Macroeconomics

One side has to blink, and given the Fed's 50-year obsession with the unemployment rate, it's unlikely to be Dr.

Greg McBride

As expected, the Federal Reserve followed through with an interest rate hike – the third in the past six months and fourth in the past 18 months. But this could be the last hike for a while. Until we see a reversal of the recent weakness in economic growth, retail sales and inflation, the Fed will be on the

Janet L. Yellen - Federal Reserve System

So what I've said about my own situation is I fully intend to serve out my term as chair, which ends in early

Stephen Gallo - BMO Capital Markets

There was a stale short of the commodity bloc and the move in the CAD has dragged them higher. We'll still see rate hikes baked in for the future. But there is a risk that they will send some sort of dovish signal. A median dot comes down, something like that. If Yellen says something about balance sheet reduction, that would be dollar

Boris Schlossberg

The dollar will sell off very hard, bonds will be bought and equities will likely rally if there are no more rate hikes before 2017. The Fed chairwoman, Janet Yellen, has been arguing that inflation is going to accelerate into the second half of this year. Tomorrow's data is going to be key in telling us whether that's really going to be the case or whether it's going to stay very much

Boris Schlossberg

The market is going to focus on the dot plot and what Chairwoman Janet Yellen says, whether she is going to be dovish or hawkish with respect to the rest of the

Brad DeLong

When I write the history of the 2010s, I think both Ben Bernanke and Janet Yellen are going to be judged quite

Matt Maley

Unless Comey drops a complete bomb shell … or crude oil begins to crash … the odds are pretty good that the stock markets will remain quiet until we hear from Janet Yellen next

Shashank Shekhar - Arcus

Slow yet steady movements in last few weeks have now brought the mortgage rates to their lowest level of the year. There are several geopolitical news [events] in the coming week that could have a substantial impact on the rates. There is British election results, Comey testimony, European central bank policy decision and even a possible Fed interest rate hike. With such market-moving news in the mix, it is very difficult to predict mortgage rates, but I am leaning towards a slight

Kenneth J. Heinz

As a result, the thematic drivers of performance for H2 17 have shifted to include not only the Trump and Yellen trades, but also the Volatility reversal trade and the increased risk associated with Terrorism and Cybersecurity. Managers positioned tactically long and short which are able to navigate both rising and falling volatility market cycles are likely to lead industry performance in H2

Christopher Whalen

Clearly, these appointees are a significant departure from the crowd that we've had on the board. Yellen is probably the most left-wing Fed chair we've ever had. I also think both Quarles and Goodfriend have much better grounding in the financial markets. That would be

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