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Published:
Nov 7, 2014 11:40 a.m. ET
According to the CME Group’s analysis of Fed funds futures, markets are pricing in a 59% chance of the first rate hike coming in September.
One message both from Yellen and Dudley was that markets may be turbulent — and that the Fed is prepared for this.
“We will undoubtedly experience further bumps in the road. The renewed volatility we saw last month is evidence enough of that,” Dudley said.
“This normalization could lead to some heightened financial volatility,” added Yellen.
Mester was the only of the three to directly discuss Friday’s jobs report, calling the data showing the unemployment rate falling to 5.8% evidence of a “solid report.”
According to the CME Group’s analysis of Fed funds futures, markets are pricing in a 59% chance of the first rate hike coming in September.
One message both from Yellen and Dudley was that markets may be turbulent — and that the Fed is prepared for this.
“We will undoubtedly experience further bumps in the road. The renewed volatility we saw last month is evidence enough of that,” Dudley said.
“This normalization could lead to some heightened financial volatility,” added Yellen.
Mester was the only of the three to directly discuss Friday’s jobs report, calling the data showing the unemployment rate falling to 5.8% evidence of a “solid report.”