Anyone who sits at that table knows that if the Fed puts his head up in the midst of an election campaign when it's not necessary to do so, that would be a rather foolish thing to do. You don't want people shooting at you unnecessarily - you'd rather live to fight another day.
More Quotes from Lyle Gramley:
Not only is he as mentally acute as the average 77-year-old, he's as acute as the average 27-year-old. He has a phenomenal mind and very good judgment, ... People close to the decision-making at the Fed are almost unanimously in great praise of him, as I would be. I think it's a wonderful thing for the Fed and for the country that he's being kept on.Lyle Gramley
whoever they pick has a considerable degree of background and expertise on monetary policy.
Lyle Gramley
Greenspan is not a guy likely to brag much, but he'll indicate the economy is still in good condition, that much of the recent bubbling up in inflation is likely to prove transitory, and that fundamentals of the economy are still quite strong despite some of the recent data.
Lyle Gramley
My concern is not with a double-dip recession. It's with the likelihood we are gong to be in an extended period of growth below potential, and that would mean rising unemployment.
Lyle Gramley
I think the Fed opened the door for a half-percentage-point increase in August, if it's needed,
Lyle Gramley
I don't think there's any doubt they'll go to 5 percent in May. I expect them to sit still after that.
Lyle Gramley
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