This under-the-radar policy risk could set off a tantrum in rates at the next Fed meeting [MSNBC.com]
Bank of America Corporation (BAC)
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Source: MSNBC.com
VIDEO2:1002:10Wall Street may be underpricing a near-term risk associated with Fed policyWall Street may be underpricing a risk associated with the next Federal Reserve meeting on interest rates.According to Richard Bernstein Advisors' Michael Contopoulos, it may come down to President-elect Joe Biden's pick for Treasury secretary: former Fed Chair .Contopoulos speculates the Fed could see her appointment as a dovish influence and it may overcompensate — essentially changing its typical behavior."What you could have is a situation where Chair [Jerome] Powell tries to get to act on a large stimulus package and doesn't necessarily sound as dovish as what the market expects," the firm's director of fixed income told CNBC's "Contopoulos, Bank of America Merrill Lynch's former head of high yield strategy, noted it's not his base case. But he said he believes it's a risk investors should take seriously because the low probability event could set off a temporary tantrum in rates."It's certa
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