Dudders popping up in New York

  • We're pretty close to both of the Fed's objectives

  • We may have an inflation problem if you push unemployment much lower

The last comment is almost at odds with what he's been saying recently about there not being a problem with inflation.

Maybe my thoughts on the speed of these hikes holds some water? I doubt the Fed will risk jobs growth just to fight inflation.

  • The economy can absorb the current rate path

  • Economy will be able to adjust just fine

  • Rate rise we've had in place is extraordinarily gradual

  • Fed wants to make policy a little less accommodative

  • We are seeking a soft landing by moving rates a little bit

  • 10 year yields are pretty low

  • Expects fixed income investing to be less attractive going forward since rates are rising

  • The general expectation is for longer-term market rates to rise as the Fed tightens

  • There's been a bond bull market since 1982

Now he's a bond trader.