Finally, a Fed-head says the B-word! Janet Yellen, traditionally a monetary policy dove, is on the wires saying the Fed should be watching asset prices for signs of bubbles. She also says that the Fed needs to make sure it has sufficient liquidity and counterparties if it wants to execute reverse repos to drain the liquidity it has thrown at the system.
Good to see a dove taking a responsible approach to both bubbles and exit strategies. A modest macro-plus for the dollar.