- QE, forward guidance pushed down long term rates
- Fed has been successful in lowering long term rates
- QE has had a positive response in housing
- Watching for signs of any excesses developing
- Pleased so far with performance of repo program
- Bitcoin is a payment innovation outside of banking
- No intersection between Bitcoin and Fed regulated banks
- Fed has no authority over Bitcoin
- Up to Congress to decide whether it needs to be regulated
Right, old Janet can rattle on on her own for now. If anything juicy comes up I’ll get it down but I don’t think we’re going to be getting anything revolutionary.
