There is no clear steer on policy in this speech analysts with different views will read it in different ways. But we think the Fed chairman knows recovery is here he just wants to be a bit cautious -- and in both directions, which means no more easing,
More Quotes from Ian Shepherdson:
There is a specific reference in February to 'the pace of policy moves at upcoming meetings ... would depend on incoming data', suggesting a degree of potential flexibility that was absent from the December minutes,Ian Shepherdson
If sharply higher interest rates, and a plunging Nasdaq make people more optimistic, we are at a loss to know what it will take to depress confidence,
Ian Shepherdson
Katrina and Rita effects still linger, though they are fading, ... Claims will likely rise next week as the full effects of Wilma hit, but the downward trend is very clear.
Ian Shepherdson
We remain of the view that the Fed's near-term objective is simply to support the stock market until consumer and business sentiment improves,
Ian Shepherdson
We think the trend in layoff is downwards, ... but we're not yet ready to argue that all the danger has passed.
Ian Shepherdson
The trend in sales is probably not as weak as this seems to suggest, but there is no question that the condoco-op market is slowing much more dramatically than the market for single-family homes. Even in the latter case, however, sales have fallen more than 10 from their summer peak.
Ian Shepherdson
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I don't have the will for singing but I must do it.Alfredo Kraus
When a nation goes down, or a society perishes, one condition may always be found; they forgot where they came from. They lost sight of what had brought them along.
Carl Sandburg
I think politicians are so far out of step with what people really want.
Paul Weller