What Happens to Interest Rates in a Year or Two?

I think the transparency comes from an inclination to reduce uncertainty, reduce volatility in the markets. So everyone kind of prices in what the Fed does. There's no big surprise shock when you learn if they're raising rates by 0.75 or 0.5 and it just makes things a little calmer. And I think that there is a lot of very wonkish concern, genuine concern, about treasury markets," he says.