- In the second departure in less than two days from the company line, Fed Governor Daniel Tarullo tells CNBC conditions don't warrant a rate hike in 2015.
- Previously: Fed's Lael Brainard continues to stake out dovish groud (Oct. 12)
- It's a better idea, he says, to look for actual signs of rising inflation and wages, rather than relying on historical relationships like the Phillips Curve which says falling unemployment and rising inflation go hand-in-hand.
- There's not much reaction in interest rate markets, but traders haven't been buying any 2015 rate hike talk anyway. The January 30-Day Fed Funds futures contract is pricing in about a one-in-three chance of a 25 basis points move this year.
- The 10-year Treasury yield is three basis points lower on the session at 2.06%.
- Previously: Bullard: Fed goals have been met (Oct. 13)
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