There are many who, on a theoretical basis, would argue that now is the time the Fed should begin pulling back because we'll be feeling the bulk of the rate cuts when we already should have started tightening again.
More Quotes from Diane Swonk:
What can the Fed do about WorldCom This is not an interest rate problem. This is not something they should be involved with, ... I'm sorry, Wall Street, but you can't look to the Fed to save you when they don't have the tools to save you on this one.Diane Swonk
We are at a time in the cycle when you don't need to just turn down the flames on the fire, you have a pot that is already boiling. What the Fed is concerned about is that even as you begin to turn down the flames that pot will still boil over.
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
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,
Diane Swonk
Once they get that debt paid off, it's just free cash flow.
Diane Swonk
If they move between meetings it's usually a move to shore up confidence.
Diane Swonk
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