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Wednesday, Jun 26
The reaction of U.S. bond yields to talk of the taper is unexpectedly "outsized" says...
The reaction of U.S. bond yields to talk of the taper is unexpectedly "outsized" says Minneapolis Fed chief Kocherlakota. Echoing the St. Louis Fed's Jim Bullard (who dissented at the FOMC meeting; Kocherlakota is a nonvoter this year), Kocherlakota says it's a mistake to talk about dates for any timing as economic data must drive policy decisions. The 2% inflation target needs to be protected from the downside as well as the upside.