Debate over when the Federal Reserve could trim its bond purchases monopolized market talk this year, but as a new Fed chief takes charge, more participants believe the key theme to emphasize for 2014 is low rates for longer. "The Fed under (Fed Chair nominee) Janet Yellen will be committed to a very low federal funds rate for several more years," said Jake Lowery, Treasury trader and portfolio manager for global interest rates at ING U.S. Investment Management. "That commitment to low rates is much more important than the precise timing of tapering," Lowery said, referring to potential reductions in the Fed's large-scale purchases of U.S. Treasuries and mortgage-backed securities. Fed Chair nominee Janet Yellen, testifying before the Senate Banking Committee this month, strongly defended the Fed's bold steps to spur economic growth, calling efforts to boost hiring an imperative.
via Business News - Yahoo Finance http://finance.yahoo.com/news/analysis-taper-low-rates-longer-204619397.html
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