We are a wealthy nation that rebuilds and fortifies. Ultimately, New York is going to more than recover the losses that this brought on.
More Quotes from 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
That's basically what the statement says 'If the economy's weakness is not due to Iraq, we'll ease. If it is Iraq and things clear up, and we get the economy springing back, we'll leave things unchanged,'
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
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
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.
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
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