Markets Media: An Interview with CME Group's Terry Duffy
In a three-part series by Markets Media, it has interviewed C-level executives during the summer. This week, it was CME Group's Terry Duffy's turn.
Here's some excerpts from the piece, "SUMMER C-LEVEL SERIES: TERRY DUFFY, CME GROUP":
Q: What has surprised you in 2014?
A: We recently had an all-time Dow record, yet investors continue to sit on the sidelines during one of the greatest equity rallies because of uncertainty around Fed policy and regulation.
Most economists believe the U.S. economy is poised for its best performance since the depths of the financial recession in 2008 and 2009. When QE ends later this year, the Fed will be free to consider when to raise the target federal funds rate. As this all plays out in the markets, the need for effective risk management will be greater than ever and that’s where CME Group’s markets come into play: risk management continues to be the hallmark of the markets.
Q: What are your expectations for the duration of 2014?
A: While interest rates aren’t expected to move much until next year, we’ve had record open interest – an encouraging sign for things to come.
As QE ends and the Fed considers when to raise the target federal funds rate, it will be a good thing for the economy and for economic confidence.
In the meantime, we’ll focus on our strengths for the rest of the year of growing our global benchmark products and partnerships, providing comprehensive clearing solutions and enhancing our technology infrastructure.
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