He's certainly opened the door to another rate cut.
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
When the economy goes back down again, years down the road, will consumer credit be a major problem, like it was in the 1990-91 recession ... Yes, it could come back to haunt us. But right now, it's a macroeconomic plus.
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
I view the risk as very high that the Fed shifts its bias to tighten (interest rates) sooner than we had forecast. The risk is rising that they will move sooner.
Diane Swonk
The conference takes Fed staff and academics out of their ivory tower ... It's the unique mix of those individuals that's the beauty of it.
Diane Swonk
The consumer is not about to die on us, but let's face it, it's time for them to give a little slack to the business sector.
Diane Swonk
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