Monday, 26 June 2017
Fed Governors On Future Rate Hikes (So Far)
Labels:
politics
In case you’ve been on holidays last week, let us tell you that a lot went on concerning Fed’s monetary policy normalization process. Nope. Don’t be scared. You haven’t missed an extraordinary rate hike, but many FOMC speakers clarified their visions over the subject.
As we don’t want you to go around the web, wasting your valuable time on endless articles, we’ve put together a list with the most relevant quotes from Fed governors. And here they are:
June 20 - Fed Board Vice Chair Stanley Fischer (Neutral)
"There is more to be done, and much improvement to be preserved and built on, for the world as we know it cannot afford another pair of crises of the magnitude of the Great Recession and the Global Financial Crisis,"
June 20 - Boston Fed President Eric Rosengren (Hawkish)
"Monetary policy is less capable of offsetting negative shocks when rates are already low, [...] Reach-for-yield behavior can make financial intermediaries and the economy more risky,"
June 20 - Dallas Fed President Robert Kaplan (Dovish)
"I think there's a point that if the 10-year Treasury rate stays at the level it's at, we've got to be very careful about how we remove accommodation."
June 20 - New York Fed President William Dudley (Hawkish)
“If we were not to withdraw accommodation, the risk would be that the economy would crash to a very, very low unemployment rate, and generate inflation, [...] Then the risk would be that we would have to slam on the brakes and the next stop would be a recession.”
June 22 - Chicago Fed President Charles Evans (Dovish)
“We can go until December and make a judgment that maybe three is the right number or maybe two is the right number, and so I think we’ve got time to look at the data and see how things improve, [...] the latest inflation data make me a little nervous.”
June 23 - St. Louis Fed President James Bullard (Dovish)
"Recent inflation data have surprised to the downside and call into question the idea that U.S. inflation is reliably returning toward target, [...] The Fed can wait and see how the economy develops before making any further adjustments."
June 23 - Cleveland Fed President Loretta Mester (Hawkish)
“[Rate hikes] are meant to keep the economy healthy, not to slow down the expansion, [...] The underlying economic fundamentals are pretty good right now."
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