Federal Reserve Chair Janet Yellen really struck a tone between dovish and hawkish, and I think delivered, for the most part, what the market needed. Federal Reserve Chair Janet Yellen was dovish enough to signal that a March rate hike is probably off the table but hawkish enough to leave the impression Federal Reserve is confident the economic recovery will persist, that's very important for stocks because as long as we can avoid a recession, this correction will probably work itself out and we'll have the opportunity to bounce back.

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