General expectation for longer term market rates to rise as Fed tightens - Fed's Dudley
|New York Fed President William Dudley crossed the wires last minutes, via Reuters, stating the following:
- Expect fixed income investing to be 'less attractive' going forward since rates are rising
- General expectation for longer-term market rates to rise as Fed tightens
- U.S. trade, immigration policies could hit international tourism to New York City
- Dodd-Frank Act likely not perfect, but can't let failure of large bank threaten financial system
- On Dodd-Frank Reforms, can definitely relax burdens on smaller banks and can look at Volcker rule
- Rate hikes have been extraordinarily gradual
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