Speaking on CNBC

  • Rise in bond yields is because of economic recovery
  • We will have a very strong summer and fall as pent-up demand returns
  • We will see some price pressures this year
  • Seeing price pressure over 6 months is not the same as seeing price pressure over next several years
  • Increase in bond yields likely due to economic optimism
  • Economy will be strong enough to take somewhat higher rates
  • long-term disinflationary trend act as headwinds on US inflation
  • When hit substantial further progress, I'll be ready to taper, but need to hit them
  • Fed took a bunch of extraordinary measures last year, it's time to wind some down
  • Fed is taking a longer term look at SLR
  • Sees inflation strong this year, but not a strong multi-year phenomena
  • Our yields are a sign of strength
  • inflation expectations are stronger in the US than in Japan, Europe; that's a sign of strength