Everything was out of balance and part of figuring out where we are now is figuring out where we were and how many imbalances were built into the economy.
More Quotes from James Annable:
If the world gets the idea that this is the end of Fed tightening, the stock market will probably like that and you will have higher stock averages. What it boils down to, in terms of the economy, is the standard of living for wage earners is significantly higher. For (George W.) Bush, he has to neutralize that and for (Al) Gore, he has to figure out how to capitalize on that.James Annable
I think investors underestimated (Fed Chairman) Alan Greenspan's sense of show business.
James Annable
They simply don't want a recession. It's an insurance policy.
James Annable
The Fed will deny that they even know there is an election going on. It is, and clearly has to be, a political organization. It is an enormously powerful public agency, and if you don't have a sense of the political structure you're operating in, you won't survive as a political agency.
James Annable
Once we read the speech we knew it would be a gradual increase, ... The Fed doesn't want to be aggressive without the smoking gun of inflation.
James Annable
The great problem with doing that in real time is people live in real time and almost everybody's default forecasting method is to extrapolate the recent past.
James Annable
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Based on Topics: Balance QuotesBased on Keywords: imbalances
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