Innovative ways to invest in america. Thats why were here today. But first, take a look at this market. Holy cow. Did it happen again . The Federal Reserve issues a statement, things get better, Interest Rates might have to go up early next year. Really scary. That statement of commonsense is in a sellmore panic. S p 500 declining. 6 prkt. This show is coming to you tonight from the starbucks annual meeting in seattle. I dont know if its wake up and smell the coffee moment. Everything the fed has been saying, some entity had to help grow this economy. Higher rates being sell, sell, sell. For most of the professionals who take action, yes, indiscriminantly. So, when they perk up as they did, they sell. Kind of unrealistic, as business gets better it will indeed happen. Forgive me for playing the role of the cooler head in the field. For the entity of this miraculous run, the fed has said if the economy catches fire, rates may rise over time. It em boldens this fed to take notice. One da
Weve been in a very tight trading range pretty much all day long. All right, sue. Lets talk a little bit more about what we might expect. As we get prepared for this press conference. You know, the market is going to be i think dissecting almost every word at the News Conference. I think the News Conference is where most of the news if there is news made will be made, ty, because theyre going to be parsing her language, her body language, and Steve Liesman is going to be there. And hes probably going to get one of the first questions. Steve steve . Lets go up to you and see what you expect to hear from miss yellen. We cant count on that, sue. You just take your question when youre called. You raise your hand and youre either in or youre out here. But this is an important day here, the beginning of the yellen era. This is the term when the economy and the rates are supposed to normalize. Heres on the yellen agenda. End qe. Reduce the Balance Sheet sometime after that. Begin heightening
Innovative ways to invest in america. Thats why were here today. But first, take a look at this market. Holy cow. Did it happen again . The Federal Reserve issues a statement, things get better, Interest Rates might have to go up early next year. Really scary. That statement of commonsense is in a sellmore panic. S p 500 declining. 6 prkt. This show is coming to you tonight from the starbucks annual meeting in seattle. I dont know if its wake up and smell the coffee moment. Everything the fed has been saying, some entity had to help grow this economy. Higher rates being sell, sell, sell. For most of the professionals who take action, yes, indiscriminantly. So, when they perk up as they did, they sell. Kind of unrealistic, as business gets better it will indeed happen. Forgive me for playing the role of the cooler head in the field. For the entity of this miraculous run, the fed has said if the economy catches fire, rates may rise over time. It emboldens this fed to take notice. One day
January the committee saw data that led it to be quite a bit more optimistic about the economic outlook. So i would say incoming data since january when our statement sounded quite an optimistic tone partly down due to weather and partly down because we probably overdid the optimism inform january, so in some sense our views have moved around here a little bit, but if we take december to march, committees views are largely unchanged. Youve served on the fed previously. Im wondering now in the past few weeks as chairwoman, whats been different about being on the fed and your responsibilities as chair compared to being just a board of governor member . Well, thanks. I feel im very lucky that ive had a lot of fed experience to draw on as i approach this role because its complicated and now in many ways i feel the buck stops with me in terms of management of the fomc and responsibility to assure that the Federal Reserve makes progress on its goals of getting the economy back on track and m
Larry fink talking about the fed and the markets yesterday. The Federal Reserve is actually causing more disorientation in the marketplace, because theyre purchasing more than is being created by the treasury. And so i think they should get it over with, move on. I dont think it will be disruptive to the marketplace. Since they started talking about tapering, rates are down 75 basis points. That tells me they have not been aggressive enough. Thats very interesting. Beyond the minutes well be speaking to the fed, well be hear something other things this afternoon as joe mention. We do have new york fed president bill dudley. Thats coming up at 10 00 eastern time. Later this morning, janet yellen will deliver the ny kruu commencement address at yankee stadium. Stanley fischers nomination to be vice chairman of the fed has cleared a key procedural hurdle. Fischer is widely expected to win confirmation. Andrew. News this morning about deals. A new study facing hostile m a activity has reac