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TD Ameritrade CEO: Taper Matters From Psychological Point Of View

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TD Ameritrade President and Chief Executive Officer Fred Tomczyk spoke with FOX Business Network’s (FBN) Liz Claman about tapering. When asked about when the Federal Reserve will begin to taper, Tomczyk said, “sometime next Spring.” Tomczyk went on to say, that he is a “big believer that there is a psychology to the markets and that you have to pay attention.” Tomczyk also commented on the nation’s deficit saying, “I don’t think we are in the clear” from the debt ceiling.

Excerpts from the interview are below.

Tomczyk on whether he thinks we will begin to taper in Spring 2014:

“I wish I knew the answer to that question, but I don’t. I do think it will be sometime next Spring.”

On tapering:

“I think it may matter from a psychological point of view and I am a big believer that there is a psychology to the markets and that you have to pay attention.”

On whether we are in the clear from the debt ceiling:

“I don’t think we are in the clear. We are back into it in December, January or February here, hopefully they see their results of what happened in that whole discussion that we just went through and do start to come together, but you know that is wishful thinking at this point. I think people are waiting to see some evidence.”

 

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