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25 Sep 2014
Hawkish talk from Feds George - BBH
FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman Kansas City Fed President George came out with some hawkish remarks yesterday.
Key Quotes
"…but we do not place much weight on them”.
“First, George is not a voting member and her hawkishness is well known."
"Second, it emphasizes that the hawks are concentrated on the periphery of the Fed’s decision making. As we have discussed, this is the reason we place less importance on the scatter plots and more on the FOMC statement, which is more influenced by the Yellen-Dudley-Fischer troika."
"In any case, George said it is time to start normalizing interest rates, and that they should already have been off zero".
"Minutes from the September FOMC meeting will be released on October 8."
Key Quotes
"…but we do not place much weight on them”.
“First, George is not a voting member and her hawkishness is well known."
"Second, it emphasizes that the hawks are concentrated on the periphery of the Fed’s decision making. As we have discussed, this is the reason we place less importance on the scatter plots and more on the FOMC statement, which is more influenced by the Yellen-Dudley-Fischer troika."
"In any case, George said it is time to start normalizing interest rates, and that they should already have been off zero".
"Minutes from the September FOMC meeting will be released on October 8."