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.
More Quotes from 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 adds up on paper to look a lot better than what it feels to people, ... not as many people are sharing in the economic gains.
Diane Swonk
The Fed needs firm evidence that the tire has hit the ground and that we're really moving forward in a very firm way, ... They're going to wait to see second quarter GDP gross domestic product and more evidence that business investment and equipment spending, especially in IT information technology is firm before they move to start normalizing rates.
Diane Swonk
We are a wealthy nation that rebuilds and fortifies. Ultimately, New York is going to more than recover the losses that this brought on.
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
It will be very interesting to see Fed's decision today, which may include them standing pat in terms of no move on interest rates, and there is chance here they will now talk about risks being balanced between recession and recovery,
Diane Swonk
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