Fed hawks turning dovish – ABN AMRO
|Han de Jong, chief economist of ABN AMRO, notes that the tone of Fed officials continues to shift and towards a dovish side.
Key Quotes
“Esther George, President of the Kansas City Fed is known as one of the most hawkish FOMC members. In recent days she has said that the Fed can be patient, meaning that the Fed can afford to take a wait-and-see approach as inflation is very tame.”
“Ms George has gone a considerable step further in an interview with the Wall Street Journal when she suggested that the Fed might reconsider its policy of shortening its balance sheet. This policy is currently essentially on auto pilot.”
“Our conclusion is that we were right when we took out the rate hike we had pencilled in for March. In fact, we feel comfortable with our view of no changes to interest rates by the Fed this year.”
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