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  "I think when the betting money shifted away from Yellen to Summers, I think there was some downgrading of the forward guidance and that was proper. You have someone who was set up initially as a frontrunner," Stanley said. "I think the markets see anyone other than Yellen as going to be less dovish than she is. The market perceives him as some big hawk, and that's absolutely wrong. This is a guy that has very conventional liberal ideological views which has been very evidenced in his policy advocacy with the administration over the last couple of years. He might be less dovish at the margin than Yellen but I think he markets have grossly exaggerated how much they would differ."