Their number is in the right ballpark. It could have a substantial effect potentially.
More Quotes from Henry Willmore:
This is one of the more surprising moves the Fed has made in a long time. I'm a little bit puzzled by this.Henry Willmore
This move is conservative and the fact they did not touch the discount rate reflects that. But since the move was taken to calm some of the recent financial market panic, this may not have done that.
Henry Willmore
If inflation were to slow down some more, that would put off the date of any further tightening. But if it's stable or rising, the Fed will focus more on job numbers. We think the labor market indicators will be fairly strong.
Henry Willmore
This is a clear shift in U.S. policy and it probably indicates that the U.S. has received some concessions from Japan.
Henry Willmore
On balance, I'd say the numbers this morning were more good than bad.
Henry Willmore
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