The Fed gets a new captain

Posted by on February 7, 2014 @ 10:30 am in Economy & markets

Transcript:

Well in my mind, we’re moving from one remarkable economist to another.  I think, more importantly, a question is: are we going to see fundamental changes in Fed policy?  In our minds, Fed policy will continue to evolve given the challenges ahead.  And the Federal Reserve has actually had a tight balancing act to walk over the next several years.  On the one hand, they may not want to be too accommodative and too late to taper in terms of their pace given the concerns over froth and certain aspects of the financial market, concerns that as everyone knows we also share.  At the same time, they also could run the risk of tightening policy perhaps too aggressively in an environment where the economy may be softer than what some may realize.

So I mention that because the burdens on the Federal Reserve, and other central banks around the world, are high.  But given those challenges, I think the leadership at the Federal Reserve, that is led by some very strong individuals.

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