The markets have clearly responded to Greenspan's testimony, ... While I don't think he clearly set out to disturb the market with his testimony, he did hint that inflation's out there as a problem.... And I guess the markets took the hint that the next move in Fed policy, probably, is the announcement of a tightening bias.
More Quotes from Brian Fabbri:
The message of solid growth and inflation at the top end of the comfort zone may mean that the Fed is keeping all its options open, but that more tightening 'may' be required, and that the data will decide.Brian Fabbri
Typically, consumers are waiting for all kinds of deals before they go out and purchase an automobile. They didn't get them in July, so perhaps they're going to wait until maybe August.
Brian Fabbri
Business confidence is very low, and thus they're maintaining as cautious an approach as possible to their activity, whether that's hiring, building inventory or anything else.
Brian Fabbri
Declines in the real estate activity will probably spill over into consumer confidence and eventually lead to slower spending.
Brian Fabbri
Rapid economic growth in the first quarter will not deter (the Fed) from their intended pause in tightening policy after another hike in the May meeting.
Brian Fabbri
We had a big decline (in September) and I thought maybe there would some small rebound, but we didn't get it. It was orders that improved very dramatically and that is a positive, but the employment component is a bit worrying.
Brian Fabbri
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