Asks if Rieder feels undermined by recent political actions affecting the Fed, referencing Richard Fisher's comments.
speaker1
Rick Rieder
Agrees the Fed will make decisions based on data, regardless of chair. Defends the Fed's institutional integrity and mission, downplaying the drama.
Asks if he would be comfortable being Fed chair given the political climate.
speaker1
Rick Rieder
Declines to comment directly but reiterates faith that anyone in the role would make right decisions for maximum employment and price stability.
Asks if that's the message he'll deliver to the President in a reported meeting.
speaker1
Rick Rieder
States he's been vocal for months: the Fed needs to cut the policy rate to 3%, which is closer to equilibrium, especially given a potential labor problem and significant government debt.
Asks if he worries about Fed independence given recent events.
speaker1
Rick Rieder
Not concerned due to deep knowledge of Fed culture and decision-making. Reiterates the need to lower rates to handle significant national debt.
Seeks confirmation on reported interview with the President.
speaker1
Rick Rieder
Declines to confirm but says recent press stories seem reasonably accurate.
Asks if he's surprised markets aren't reacting more to the Fed independence concerns, as Janet Yellen and Richard Fisher were.
speaker1
Rick Rieder
No. Explains investment decisions are based on the strong economy and market technicals. Notes a successful strategy has been to fade market overreactions, as markets often overreact to data one day and get contrary data the next.