Members of Congress, especially Republicans, are beginning to realize that around the country, even among their supporters, they're being viewed as dysfunctional, unable to get anything done. So I think the Republicans are starting to come together, at least a little in the Senate on immigration.
More Quotes from Greg Valliere:
I think Greenspan realizes that if he doesn't move tomorrow, he may have to do 50 basis points at the end of January, which could look panicky.Greg Valliere
The wording of the statement will be very significant does it make it clear that the Fed is prepared to do more. It will be an important clue about what we might get going forward.
Greg Valliere
It's been a convenient argument with Bush supporters. They'll continue to cite (the household number,) ... The majority of mainstream economists, headed by (Fed Chairman Alan) Greenspan, look at household data but they think payroll number is more important.
Greg Valliere
I think sometimes after we have this type of party, there is a hangover -- and this comes in '05, ... The new Congress in '05 will make efforts to restrain growth. They may not rescind the tax cuts, but there will be spending restraint. But between now and then, it's just a party.
Greg Valliere
I personally think the 1992 analogy has been overdone.
Greg Valliere
I really think when you talk about pocketbook issues that affect the electorate, people think about the Nasdaq (composite index) and the Dow Jones (industrial average). If we got another rate hike and the market sold off on that, I think people would be displeased. If there's no rate hike on August 22 and the market rallies, you've got to say that helps (Al) Gore.
Greg Valliere
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