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.
More Quotes from Diane Swonk:
obviously something that (the Fed) is trying to stretch for, saying, 'Well maybe people aren't trading job security for wages anymore.'Diane Swonk
This is a very unusual recession in that the consumer did not collapse and incomes are in the black,
Diane Swonk
Is the pressure on inflation behind us I think not. Inflationary pressures are not going to surge overnight, but they'll creep up.
Diane Swonk
The worst-case scenario assumes that a military strike against Iran would occur late in the year.
Diane Swonk
kick back, put up his feet for a bit and not have to carry the burden of keeping the economy going alone.
Diane Swonk
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.
Diane Swonk
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