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
