The question is not whether the consumer is slowing. From the Fed's perspective, it's whether the consumer is slowing down fast enough to keep inflation in check,
More Quotes from 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 Fed will wait to see at least another month's worth of economic data before it makes a decision to ease. They want to see whether or not weak July data were more of an aberration or a trend -- two months will give them more cover to ease further.
Diane Swonk
I think the market is tired of Christmas. We've already seen the Christmas reports. As far as the market is concerned, that's old news.
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
If they move between meetings it's usually a move to shore up confidence.
Diane Swonk
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