A limited statement would be more productive because the Fed is trying to deal with psychological issues. They want the focus to be on their action, not their words.
More Quotes from Diane Swonk:
He'd like to bring in inflation targeting. (But) he must build consensus to do so and he doesn't have consensus now. I think he's going to make a smooth transition, but it's going to be an evolution in policy change.Diane Swonk
It's a lot better than 1990-91, when we started out from a lower level, ... The bottom line is, consumers are going to be just fine. There's not going to be a bubble, like when we had 3.9 percent unemployment in April 2000. The labor market will tighten enough again, but for the moment it's going to be more balanced.
Diane Swonk
The worst-case scenario assumes that a military strike against Iran would occur late in the year.
Diane Swonk
(Bush) has got to be even more careful today. He has burned through a lot of political capital. He's got to put someone in who is going to be a slam dunk.
Diane Swonk
Larry Summers is the economic conscience of Rubin. He is the economic half of that team. Rubin had market smarts and the political savvy Larry Summers was, in many ways, the economic mastermind here.
Diane Swonk
The Fed will sit on its hands. There's really no reason to do otherwise. The economy's falling into place as the Fed thought -- it's in a soft spot, with some light at the end of the tunnel.
Diane Swonk
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