Nobody thinks the risk of inflation is equal to the risks of recession -- all indications are on the down side. The only way to rationalize this is that Fed Chairman Alan Greenspan wanted a half-point cut, and to get a unanimous decision, he had to go to a neutral statement.
More Quotes from Ethan Harris:
With few signs that consumer prices are about to break to the upside ... along with signs that aggregate demand remains robust, we expect the Fed will not only vote to keep rates constant, but will leave the growth and inflation bias statements unchanged.Ethan Harris
There's definitely going to be nervousness around the event and a kind of inertia. My wife has already asked me not to come into work that day.
Ethan Harris
For the Fed to hike rates now would be the equivalent of a doctor prematurely declaring a patient at full health, discharging them from the hospital and then forcing them to run a mile.
Ethan Harris
They keep fiddling with the language, and the general tone of the directive keeps getting a little less dovish.
Ethan Harris
The economy is one ugly event away from contraction.
Ethan Harris
Obviously we have a pretty weak economy and this was not unexpected. We knew they were going to have to revise it downward.
Ethan Harris
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Based on Topics: Danger & Risk Quotes, Decision Making QuotesBased on Keywords: half-point
Anybody who knows me knows my vote can't be bought.
Judy Davis
We would take a little bit of money out of a huge increase in ballistic missile defense and put it in a place where it will do a lot of good, namely, in targeted pay increases to our enlisted personnel, particularly our NCOs and our junior warrant officers.
John Spratt
Jimmy Carter as President is like Truman Capote marrying Dolly Parton. The job is just too big for him.
Rich Little