The red ink was a one-month record in February, and the records are likely to continue to be broken this year. The spending side of the budget ledger remains out of control, despite some effort to constrain these expenditures.
More Quotes from Chris Rupkey:
Expectations of Fed action have gone though the roof. The market is looking for two 25-basis-point moves and one 50-basis-point move before the presidential election.Chris Rupkey
Growth isn't fast enough that the Fed has to brake the economy, and at the same time it isn't slow enough that the Fed can stop and watch. Inflation pressures can still gain a foothold as the economy continues to take up slack resources.
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The markets were prepared for Greenspan to end his final meeting with the funds rate at neutral. What they got instead is the statement that rate hikes still 'may be needed.' This was not music to the market's ears.
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consumer spending has not been dented by the hurricane-inspired rise in gasoline prices and fears of higher home heating oil bills.
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The Fed is still going to be on guard in terms of monitoring inflationary pressures, but this has to be good news today.
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Based on Topics: Budgeting Quotes, Efforts QuotesBased on Keywords: constrain, ledger, one-month
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