MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
|
|
MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, July 1, 2013 New York Fed President Tries to Calm Markets The bond market, stock market and thus the ETF and mutual funds market, chaos that unfolded in the past couple of weeks hit home at the Fed. Fed New York President William Dudley warned the markets that they're reading the Fed wrong to think that an increase in interest rates is coming any sooner, the WSJ's Michael Derby wrote. He said "A rise in short-term rates is very likely to be a long way off" regardless of whether or not the Fed slows the tapering process later this year: The official noted a shift in market rates that's happened since the last gathering of the monetary-policy-setting Federal Open Market Committee is seen by observers as signaling rate rises could come "much earlier than previously thought." Mr. Dudley, who is at the core of Fed monetary policy decision making, said "let me emphasize that such an expectation would be quite out of sync with both FOMC statements and the expectations of most FOMC participants."Dudley said the Fed can "moderate" the pace of bond buying later in the year. Investors pulled a record $61.1 billion in June through the 24th, The WSJ reported. To read more, click here. Printed from: MFWire.com/story.asp?s=44646 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |