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Scott Minerd
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As Chairman of Guggenheim Investments and Global Chief Investment Officer, Mr. Minerd guides the Firm’s investment strategies and leads its research on global macroeconomics. Prior to joining Guggenheim Partners, Mr. Minerd was a managing director at Morgan Stanley and Credit Suisse. He is... More
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Market Perspectives
  • Testimony Reveals Fischer No Hawk 0 comments
    Mar 14, 2014 3:48 PM

    Dr. Stanley Fischer's comments on Thursday at his confirmation hearing for his nomination to be vice chairman of the Federal Reserve were very interesting and should allay concerns that he is a monetary policy hawk. Dr. Fischer is clearly focused on lowering the U.S. unemployment rate and his comments before the U.S. Senate Banking Committee revealed he has little to no concern about near-term price stability. The widely-respected economist and policymaker clearly views the Fed's tapering of its asset purchases as a tightening of monetary policy and it appears he will not be anxious to raise interest rates until U.S. inflationary pressures rise. As long as inflation remains tame, it appears that Dr. Fischer will not press the case to hasten rising interest rates from the zero bound.

    This commentary has been prepared for informational purposes only and should not be considered as investing advice or a recommendation of any particular security, strategy or investment product. This commentary contains opinions of the author but not necessarily those of Guggenheim Partners or its subsidiaries. The author's opinions are subject to change without notice. Forward looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but not guaranteed as to accuracy. This commentary may not be reproduced, redistributed or published in whole or in part for any purpose absent the written consent of Guggenheim Partners, LLC. ©2014, Guggenheim Partners.

    Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information.

    Guggenheim Partners, LLC is a privately held global financial services firm. For more information visit www.guggenheimpartners.com

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