David Kelly - JPMorgan Chase & Co.

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Last quote by David Kelly

If you thought that volatility was going to be much higher, then you would want to be a little more weighted in bonds.feedback
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May 21 2017
David Kelly has been quoted 47 times. The one recent article where David Kelly has been quoted is How a White House walloped by scandal may 'change the odds' for Wall Street, and your retirement. Most recently, David Kelly was quoted as having said, “We'll just have to see how events play out. If the investigation continues quietly in the background, maybe there's not much fallout. But if we get more revelations or more reaction from the administration, that sort of changes the odds, and there could be more volatility. So, as long as you were positioned O.K. early on this year, there's no real reason make a change right now.”.
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David Kelly quotes

This is a completely inappropriate time to engage in further fiscal stimulus.feedback

It's a pretty simple equation: uncertainty goes up, stock market goes down.feedback

I think it is a search for growth, but it's easier to be brave when ... you think the economy is relatively stable than bracing for a recession.feedback

We have seen this over and over again that government and government regulation does not move as quickly as innovation in the technology space.feedback

He is really pushing to be first, and this is a situation where is is more important to get it right than it is to get it first.feedback

I think the most important report this week will be the CPI report. I think it will show inflation further rising here.feedback

If that caused a big market sell-off, they would have an impact one way or the other on the election. And they just don't want to have anything to do with it.feedback

[But] it's unhealthy to keep interest rates this low at this point. So the policy is wrong, and they should raise rates.feedback

For them, that's a very good reason, even if they don't say, for waiting through November.feedback

I don't normally say this, but credit to Janet Yellen. She has argued that the labor force participation rate would pick up as people got used to a tight labor market. And that does seem to be happening. That's giving them more room to breath.feedback

I still don't think the Fed is going to move in November, but I think it does raise the odds for December.feedback

The economy has hit every target they have set. And we've got an inappropriate level of interest rates which is distorting asset markets, blowing bubbles and will eventually end up in inflation. They're imposing long-term harm for no short-term good here.feedback

By the Fed's own criteria, everything is in place for them to raise rates. But still, people don't think they are going to raise rates, so the market is in conflict.feedback

The problem is that underlying inflation pressures are rising and the labor market is tightening. And you could see a pickup in inflation next year. If the Fed finally loses its nerve and finally begins to raise rates, you could have a bit of a regime change here. I think the U.S. economy is going to gradually overheat here.feedback

I think they're trying to nudge expectations of a September rate hike off the ground here because the data could get better, and they don't want to shock expectations later.feedback

They are clearly trying to send a signal that really, Our worst fears have not been realized and there's very little wrong with this economy here, so we may actually move in September. They want to leave that open, but they've wimped out so many times nobody is going to believe them.feedback

They've never found the perfect moment, but you never get perfection in life. I think they've made a big mistake by not moving sooner.feedback

As long as the U.S. economy doesn't show some great risk here, I think you'll see rotation in different issues as people deal with different economic concerns as the market grinds higher.feedback

There's no uncertainty, about Ireland's position in the EU in the long run, and I think that will help the financial center.feedback

The last thing they'll want to see is tariffs go up all over the place. I think the government will do as much as they can to try and get a not-too-onerous deal for Britain.feedback

Whoever gets that job is going to [have] a thankless job. I don't think any British leader will make that decision without consulting the people.feedback

If they vote to leave, it's really hard to know how markets are going to react because there's been so much negative pressure on sterling, so much negative pressure on global markets.feedback

I think there are a lot of distractions in the markets this week. Obviously a lot of focus on the (EU) referendum and interest around the very dovish sentiment expressed by the Federal Reserve. I think that's got the market really confused here.feedback

It was most pronounced in the dollar.feedback

Market's not really moving at all. A real big (point) of news is going to be the jobs report tomorrow so people will be waiting on that. Markets are adapting themselves to (Fed Chair) Janet Yellen's speech two days ago but I think that adaptation is over.feedback

The news obviously has been dominated by what has gone on in Brussels, but experience tells us not only is it the morally right thing to do to basically not overreact, it also turns out to be the most profitable thing to do.feedback

I think what's interesting was last week really revealed the extent to which the Fed seems to be pursuing a monetary policy that is divorced from domestic considerations. I think a lot of what they are doing is aimed at keeping the dollar low.feedback

The CPI number doesn't surprise me but it does surprise me the market isn't taking a closer look at it. I think it's an important report because it should remind people that underlying inflation pressures are moving up.feedback

I think everybody's finally getting settled back in and they're trying to assess really how global growth is going to impact their investments for the rest of the year. You will see market volatility throughout the rest of the month, but you'll start to see the market have a couple of up days because people are putting money to work.feedback

It's going to be a turbulent year. This isn't a blip.feedback

There will be incredible pressure put upon them by the American people, by every business, and every tax payer in the United States and because of that I think they will come up with a deal. Now the reason its important to recognise that at the outset is – people shouldn't prepare for the worst case scenario of them not coming up with a deal.feedback

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