rates: everyone on the record — The Minutes https://minutesof.com/on/rates/ Everyone on the record about rates: 20 verbatim quotes from 5 people, March 2017 to June 2026, in one chronology, each with a timestamp and a link to its… en Sun, 30 Aug 2026 22:33:11 +0000 John Williams: Williams reports the EFFR has increased one basis point relative to IORB. https://minutesof.com/q/b0a8c07a-5b1c-41b8-86ca-50932f66cf28/ https://minutesof.com/q/b0a8c07a-5b1c-41b8-86ca-50932f66cf28/ “Most recently, this has translated to a one-basis-point increase in the EFFR relative to IORB.” — John Williams, NY Fed speeches rates John Williams: Williams reports the FOMC held the federal funds rate at 3.5 to 3.75 percent. https://minutesof.com/q/4e409109-248c-4772-a141-3981e98924ef/ https://minutesof.com/q/4e409109-248c-4772-a141-3981e98924ef/ “Accordingly, at its meeting last week, the FOMC decided to maintain the target range for the federal funds rate at 3-1/2 to 3-3/4 percent.” — John Williams, NY Fed speeches rates John Williams: Williams confirms FOMC kept the federal funds rate at 4.25 to 4.5 percent. https://minutesof.com/q/1285e436-2640-4e06-8d21-75d38dfaf27a/ https://minutesof.com/q/1285e436-2640-4e06-8d21-75d38dfaf27a/ “the FOMC decided at its meeting last week to leave the target range for the federal funds rate unchanged at 4-1/4 to 4-1/2 percent.” — John Williams, NY Fed speeches rates Howard Marks: Marks sees no reason for the Fed to cut rates given the economy is performing fine. https://minutesof.com/q/ea2ee804-b799-4d19-80bc-8092b169480e/ https://minutesof.com/q/ea2ee804-b799-4d19-80bc-8092b169480e/ “I don't see any reason to cut rates. I don't think this economy needs stimulus. The economy is doing fine.” — Howard Marks, Barron's Fri, 12 Jun 2026 17:53:42 +0000 rates Marc Rowan: Rowan observes yield curve steepening with ten-year rates rising despite short rate cuts. https://minutesof.com/q/1519a8e9-33f0-426e-8cf9-58d670807c11/ https://minutesof.com/q/1519a8e9-33f0-426e-8cf9-58d670807c11/ “Depreciating our currency has the tendency to be inflationary. And what we're seeing is a steepening of the yield curve. Rates that matter, the ten year, are higher even if short rates are lower.” — Marc Rowan, Yahoo Finance Sun, 21 Dec 2025 16:00:06 +0000 rates Marc Rowan: Rowan observes yield curve steepening with ten-year rates rising despite lower short rates. https://minutesof.com/q/908cc5a7-2b0e-4a34-9e1a-65a323d103ff/ https://minutesof.com/q/908cc5a7-2b0e-4a34-9e1a-65a323d103ff/ “And what we're seeing is a steepening of the yield curve. Rates that matter, the ten year, are higher even if short rates are lower.” — Marc Rowan, Yahoo Finance Wed, 10 Dec 2025 23:30:16 +0000 rates David Tepper: Tepper warns that easing beyond two or three cuts risks a weaker dollar and higher inflation. https://minutesof.com/q/98613b7d-86dc-461e-a13f-83867385a45e/ https://minutesof.com/q/98613b7d-86dc-461e-a13f-83867385a45e/ “Beyond that, I think it can, you know, then you're really risking a lot of things. A weaker dollar, more inflation, and those sort of things.” — David Tepper, CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 rates David Tepper: Tepper says one or two more rate cuts won't be too easy, but beyond that risks repeating the 200 https://minutesof.com/q/c1179fba-4e66-4b11-8d34-152c46ef7ff9/ https://minutesof.com/q/c1179fba-4e66-4b11-8d34-152c46ef7ff9/ “I don't think another ease matters, you know, as far as being too easy. This is gonna be a little bit restrictive.” — David Tepper, CNBC Television Thu, 18 Sep 2025 13:39:12 +0000 rates David Tepper: Tepper questions high equity multiples on S&P 220 earnings estimates given current interest rate https://minutesof.com/q/7803d44c-a9db-43ce-8205-b01868cbc581/ https://minutesof.com/q/7803d44c-a9db-43ce-8205-b01868cbc581/ “I saw somebody else on your show the other day, they had a two twenty price to two twenty earnings estimates for the S and P.” — David Tepper, CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 rates David Tepper: Tepper notes mortgage rates have declined 90 basis points since peaking in early November. https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ “But the truth is that was in November where rates peaked, mortgage rates peaked in early November. Well, they're down 90 basis points since then.” — David Tepper, CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 rates David Tepper: Tepper notes mortgage rates have declined 90 basis points since peaking in early November. https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ https://minutesof.com/q/e714ba01-17f8-4fad-af94-7cd3ab0d2c00/ “But the truth is that was in November where rates peaked, mortgage rates peaked in early November. Well, they're down 90 basis points since then.” — David Tepper, CNBC Television Thu, 22 Dec 2022 14:39:54 +0000 rates Brad Gerstner: Gerstner shows home affordability fell from $350,000 to $240,000 for same monthly payment. https://minutesof.com/q/14cc426a-7772-44a1-8fcc-19b463962dc0/ https://minutesof.com/q/14cc426a-7772-44a1-8fcc-19b463962dc0/ “Somebody who can afford to pay $1,200 a month in December could afford a $350,000 home, today can afford a $240,000 home.” — Brad Gerstner, All-In Podcast Mon, 23 May 2022 04:51:01 +0000 rates David Tepper: Tepper believes stock market may have hit its yearly high due to interest rates around 3%. https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ “And it really has to do with interest rates. I'm not sure we're right on the cusp of breaking out on interest rates at this level, around 3%.” — David Tepper, B.E.S.T. Sun, 06 May 2018 00:11:47 +0000 rates David Tepper: Tepper believes stock market may have hit its yearly high due to interest rates around 3%. https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ https://minutesof.com/q/05e3e728-8ed3-445f-bf17-5521e85ca9b4/ “And it really has to do with interest rates. I'm not sure we're right on the cusp of breaking out on interest rates at this level, around 3%.” — David Tepper, B.E.S.T. Sun, 06 May 2018 00:11:47 +0000 rates David Tepper: Tepper says three more hikes this year is more likely than two, questions if fourth should be pr https://minutesof.com/q/e8cbd0a1-8d8e-4dac-be1c-09f8920902fb/ https://minutesof.com/q/e8cbd0a1-8d8e-4dac-be1c-09f8920902fb/ “So I'm sure that the Fed funds odds are going up as we're speaking, and there's a better chance that they'll go three times more this year than two times more this year.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates David Tepper: Tepper argues Fed is far behind where it should be given projected 2.25% inflation by year-end. https://minutesof.com/q/8077faec-1e58-4ffe-885f-a9108254dce2/ https://minutesof.com/q/8077faec-1e58-4ffe-885f-a9108254dce2/ “They'll go a lot because they're so far behind where that 1% real if you're running two and a quarter percent inflation by the end of the year and and you have all these things happen, I think the real rate should be higher sooner because you have all these things happen.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates David Tepper: Tepper dismisses the view that Fed won't hike in non-press-conference meetings as fallacy. https://minutesof.com/q/b505b391-2850-4f28-8f3b-af73a605c44f/ https://minutesof.com/q/b505b391-2850-4f28-8f3b-af73a605c44f/ “September increase, December increase, and maybe more than that. This is fallacy that says the Fed won't go in on, press conference.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates David Tepper: Tepper warns markets must prepare for Fed hikes in June, September, December and possibly more. https://minutesof.com/q/6189f751-8749-45d7-9b65-31972b90d57c/ https://minutesof.com/q/6189f751-8749-45d7-9b65-31972b90d57c/ “You're gonna bet against these tax things. You're gonna bet against the French election. You better be you better be ready, and the market has to get ready for June increase Yeah.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates David Tepper: Tepper says the Fed's 1% real rate target is dead wrong if tax cuts happen and French election g https://minutesof.com/q/04c05440-5395-4483-a483-d9887cc1c26e/ https://minutesof.com/q/04c05440-5395-4483-a483-d9887cc1c26e/ “It's not wrong if there's no tax cuts necessarily. Certainly, if the French election goes the wrong way, not wrong. Not wrong. But it's gonna be dead freaking wrong.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates David Tepper: Tepper projects long-run growth could be 0.25-0.5% higher with deregulation, 3.5% in 2017-18. https://minutesof.com/q/9f97d492-6442-4baf-bf65-ae05a69042a4/ https://minutesof.com/q/9f97d492-6442-4baf-bf65-ae05a69042a4/ “I'm saying I think the long run with in a deregulatory could be a quarter half point higher.” — David Tepper, CNBC Wed, 08 Mar 2017 14:54:29 +0000 rates