Posted To: MBS Commentary
Way back in 2014, Yellen gave her inaugural semi-annual congressional testimony on March 19th. When asked what the Fed meant by "considerable time" when referring to how long it would be before they hiked rates, Yellen did something fairly un-Bernanke-like and actually threw out a number. She was pretty timid about it, but it was out there, nonetheless (it was '6 months,' by the way). Bonds sold-off sharply after that comment. Today it was Powell's turn for an inaugural congressional dog and pony show--which consists mostly of political grandstanding with members of congress invoking all things holy in order to compel the Fed Chair to promise to change things that have nothing to do with the Fed. There's really very little of substance exchanged when it comes to monetary...(read more) Forward this article via email: Send a copy of this story to someone you know that may want to read it.
from Mortgage News Daily http://ift.tt/2t0LdNp
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