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Re: Dudley (NYFRB) speech on Fed exit strategy
Why did Bernanke reportedly say in one of his recent $250,000 (reward) talks, that interest rates wouldn't rise in his lifetime?First, we need an economy that is strong enough to more fully utilize the nation’s labor resources and to begin to push inflation back towards the Federal Reserve’s long-term objective. Only then can the monetary policy normalization process proceed. -
Re: Dudley (NYFRB) speech on Fed exit strategy
Don, I don't know. Note that it's a third hand report. http://uk.reuters.com/article/2014/0...0DW1PZ20140516But if it's a prediction, let's not forget that his record includes such gems as "Subprime will be contained"...At least one guest left a New York restaurant with the impression Bernanke, 60, does not expect the federal funds rate to rise back to its long-term average of around 4 percent in Bernanke's lifetime, one source who had spoken to the guest said.Comment
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