It’s Going to Stay a Yellen Fed No Matter Who Gets the Job
Bloomberg News on October 27, 2017
“The only reason Taylor is a high-rate person” in the minds of investors “is that he has a dramatically higher R-star estimate than anybody else on the committee,” said former Fed Governor Laurence Meyer, who doesn’t think Taylor can convince the committee that the neutral rate is around 2 percent.
“Not a prayer in the world,” said Meyer, who now runs his own policy analysis firm. “FOMC decisions have become more consensus driven under Bernanke and Yellen. No going back.”