Atlanta Fed chief Dennis Lockhart reiterates Bill Dudley's cautious comments on the pace of the nascent U.S. economic recovery.
Speaking in New York, Lockhart highlighted recent "slowing" in job creation and expressed concern about the falling labor force participation rate. "Lower participation may mean somewhat lower potential for the economy," he observed. "You don't say," Zero Hedge quips.
Meanwhile, on the hawkish side, Dallas Fed President Richard Fisher says the Fed's decision to maintain the pace of its asset purchase program "undermined [the central bank's] credibility" and created more uncertainty.
10-year yield -2 bps, TLT +0.4%