| Videos | Channels | Search |
Why the markets were wrong to be surprised by Yellen
Global markets were taken by surprise by the Fed's Janet Yellen on Wednesday when she suggested US interest rates could rise in six months' time. They shouldn't have been, according to Saxo Bank's Head of Macro Strategy, Mads Koefoed.
As expected, the Fed announced another USD 10 billion reduction in its monthly bond purchases, It was the right call, says Mads.
He says the decision to taper is correct and that he's agrees that recent weak data was simply due to bad weather. He believes the US economy will accelerate for the rest of the year and there wasn't a lot of "new news" in what Yellen had to say.
01:15 minutes
Tags: bernanke, business, central bank, dollar, fed, fed qe, fed rate decision, fed stimulus, fed yellen, federal reserve, finance, financial markets, fomc, fomc meeting, janet yellen, lea jakobiak, macro, macro strategy, mads koafoed, market drop, market reaction, markets, news, qe, saxo bank, saxo bank mads koefoed, saxo tv, taper, tapering, the fed, tradingfloor.com, us central bank, us dollar, us economy, us fed, us mpc, us rate decision, us rates, usd, video, yellen