They are a bit more sanguine about inflation than the market has been, and they've been trying to tell people that. It doesn't mean they have their head stuck in the sand. With the last sentence of their statement, they leave themselves plenty of flexibility.
More Quotes from Joshua Feinman:
To keep these tax cuts permanent, even if it means somewhat faster GDP growth -- and that's debatable -- will mean the government gets a smaller tax take as a percentage of GDP, ... Then spending has to be a smaller share, too. We have to have some plan.Joshua Feinman
It's not like turning on or off a light switch. It's not like all hell breaks loose at 50.
Joshua Feinman
Before the storm struck, (the Fed) thought the economy was on sound footing, ... I don't think that's changed. The only thing Katrina may have done is raise some uncertainty about the near-term outlook.
Joshua Feinman
As the national economy gets better, California will get better, and some of its problems will be less acute.
Joshua Feinman
We've been talking for a long time about capital spending growth being a key component of the sustainability of this recovery. You have to be encouraged about what we've seen.
Joshua Feinman
These numbers were worse than expected. But overall, the labor market is still deteriorating, but not at the rate it was after Sept. 11.
Joshua Feinman
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