(The Fed) would rather see slower economic growth over the next two years than the return of stagflation three or four years down the road, ... And I think they'll do everything they have to make sure we don't have stagflation.
More Quotes from Mark Vitner:
It confirms that this recession in 2001 was not particularly mild or as short as some folks had thought, ... We were expecting at least two negative quarters, and the fact we had three is a little bit of a surprise. That helps explain why we're having soMark Vitner
The way the Fed is supposed to influence markets is through an open market policy, but they will also use the open mouth policy,
Mark Vitner
The unemployment rate is likely to hang around 4.5 percent and finish the year somewhere near 4 percent. That would mean that North Carolina would be back in the familiar position of having an unemployment rate below that of the nation.
Mark Vitner
The upward revision results from the slightly lower than previously estimated trade deficit. We've already seen in July data that trade deficit has worsened in the third quarter.
Mark Vitner
Coming on the heels of stronger reports on retail sales and durable-goods orders, as well as a sharp drop in first-time claims for unemployment, this ... drop in consumer confidence was a cold slap in the face to all of those economists, including ourselves, that are looking for a second-half rebound.
Mark Vitner
Inflation at the end of the day is headed higher, it's just not going to happen that dramatically this year.
Mark Vitner
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