We were expecting sales to remain in record territory today, not set new records, ... This really underscores the silver lining to clouds abroad.
More Quotes from Diane Swonk:
Larry Summers is the economic conscience of Rubin. He is the economic half of that team. Rubin had market smarts and the political savvy Larry Summers was, in many ways, the economic mastermind here.Diane Swonk
There's no question that, given the right circumstances, the Fed wouldn't hesitate to spend 175 basis points. But they really have to have a good reason to put an insurance policy out there.
Diane Swonk
I think this is clearly the Fed saying 'we're willing to take out an insurance policy, we're not willing to risk recession',
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
kick back, put up his feet for a bit and not have to carry the burden of keeping the economy going alone.
Diane Swonk
He'd like to bring in inflation targeting. (But) he must build consensus to do so and he doesn't have consensus now. I think he's going to make a smooth transition, but it's going to be an evolution in policy change.
Diane Swonk
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