The Fed wants to see whether this July data, this bad economic data, was an aberration, and two months will make it clearer. If they see more instability in financial markets, they will take it lower.
More Quotes from Diane Swonk:
If it was going to be one of them, you would have thought they would just move forward.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
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
Spread of violence into Iran. That's what I worry about. That's not in my control, though.
Diane Swonk
This is a very unusual recession in that the consumer did not collapse and incomes are in the black,
Diane Swonk
As auto sales taper off, we'll see a reallocation of spending. A resolution of the Iraq situation will cause a relief rally and get companies to invest back into the business, ... Also, oil prices will plummet and that typically stimulates real income growth.
Diane Swonk
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