Bill Stone
speaker
138 appearances
3 recordings
1 series
first heard Dec 2017
last heard Nov 2018
Bill Stone’s voice in public audio — every appearance, attributed to the second.
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Appearances
So what am I saying?
Well, they raised their expectations for US GDP growth rate to 2.5% from 2.1 in 2018, but they still said there'd only be three hikes.
I think that's telling you they are on the net, or that's why I think the market even interpreted it as a net dovish kind of meeting, which is why bonds really rallied
uh, stocks, you know, had at least a, you know, they were up there up.
You saw the financials at least so far has sold off because they have benefited from expectations.
of hikes and maybe people are thinking there won't be quite as many.
I think four might be a bridge too far.
It's hard for us.
I mean, obviously, we don't all know all the details in the plan yet.
I would say PNC anyway, even estimating and maybe you call it a guesstimating some benefit to the to the tax reform
we're at 2.7% for 2018.
I think you're right.
I think most of the markets are
on the whole thinking that Powell is going to be, you know, a continuity type of chair.
So you're not going to see a major divergence from what we've had, which, as you mentioned, has been really good in terms of the financial market.
So as of right now, I think that's the way the market's reading it.
Obviously, it'll be more interesting once he's in there and running it, whether we see some more distinct differences.
But at the moment, I think the financial markets are saying, yeah, it's close enough for government work, as they say.
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