The reason for this tremendous shift towards greater transparency is because of the growth and dominance of the capital markets. The monetary policy impulse is now driven by how the bond market, stock market, currency market react, so now it is more important that those markets understand what the Fed intends.
More Quotes from Bill Dudley:
Over the past year, core intermediate goods inflation has been nearly 5 percentage points higher than core finished goods inflation. This is one of the largest gaps ever, and reinforces our expectation that a part of this early-stage inflation should feedBill Dudley
Since it is the tightness of monetary policy you have to worry about in terms of implications for the economy, not the shape of the yield curve, per se, it should tell you not to be particularly nervous about the outlook.
Bill Dudley
It'll depend on how the market interprets the statement and whether or not they can tell if the Fed closed the door to further hikes. If they haven't, they'll want to know how wide that crack is.
Bill Dudley
Because it's better than doing nothing. A wild boar charges you and you shoot four of the six shots in your gun at it and it doesn't fall. Do you look at your gun philosophically and think, the first four shots didn't work, why bother
Bill Dudley
I think you have to be somewhat skeptical about the payroll number.
Bill Dudley
In our view, Fed officials are probably at least as nervous about the inflation outlook as a few months ago.
Bill Dudley
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Based on Topics: Capital QuotesNo man has ever yet been hanged for breaking the spirit of a law.
Grover Cleveland
Always be nice to those younger than you, because they are the ones who will be writing about you.
Cyril Connolly
There's a need to keep the history of an artform going, parallel with the new work that's being done.
Hal Price