This is a very unusual recession in that the consumer did not collapse and incomes are in the black,
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
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 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
Given the obvious hardship of having illegal aliens flooding in, we also know they are critical to the functioning of the U.S. economy. To be turning our backs on people who want to work is kind of silly in an environment where you've got tight labor markets and we're getting older and need younger people to work.
Diane Swonk
The worst-case scenario assumes that a military strike against Iran would occur late in the year.
Diane Swonk
They're now looking at the demand trade-off on oil prices, not just the inflation trade-off, which will make Fed policy much more complicated. It's a subtle but important change.
Diane Swonk
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