5 Nov 2013
Flash: A dovish Fed – BBH
FXstreet.com (London) - Research teams at BBH said that the balance of comments from Fed speakers yesterday was tilted towards the dovish end.
Key Quotes:
“Rosengren stated that the Fed can be patient on tapering, and that a December or April start would have little impact on the balance sheet”.
“Powell commented that policy would remain highly accommodative for some time, and Williams added that rates need to stay near zero for a significant time even after the jobless rate reaches the 6.5% threshold”.
“Even the known Dallas hawk Fisher sounded a bit dovish by blaming the government for the likely delay in tapering”.
“His colorful comments are worth quoting in full: "While the Fed has been moving at the speed of a boomer in full run, the federal government of the United States has at best exhibited the adaptive alacrity of a koala (without being anywhere near as cute).”
“US Treasury yields closed marginally lower yesterday, but none of these comments led to any sustained price action”.
Key Quotes:
“Rosengren stated that the Fed can be patient on tapering, and that a December or April start would have little impact on the balance sheet”.
“Powell commented that policy would remain highly accommodative for some time, and Williams added that rates need to stay near zero for a significant time even after the jobless rate reaches the 6.5% threshold”.
“Even the known Dallas hawk Fisher sounded a bit dovish by blaming the government for the likely delay in tapering”.
“His colorful comments are worth quoting in full: "While the Fed has been moving at the speed of a boomer in full run, the federal government of the United States has at best exhibited the adaptive alacrity of a koala (without being anywhere near as cute).”
“US Treasury yields closed marginally lower yesterday, but none of these comments led to any sustained price action”.