If my decision were based solely on economic considerations, I would tighten again. I think the economy won't be derailed by this. I think the economy is firm and they (Fed governors) can send a signal that things are as they were.
More Quotes from Mark Zandi:
The economy is going to be hit hard by Katrina, and it is going to be hardest on consumers who are already stretched thin. With the surge in gasoline and home heating oil prices, consumers will have a difficult choice to make between filling their gas tank or spending on other things.Mark Zandi
Most of the loans are concentrated in the most juiced-up markets across the country.
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As the memory of the tech bust fades, we seem to be getting better and better job growth.
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The data is going to look ugly in the next couple of months.
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The economy is good, but it hasn't improved for everybody. The gains have predominantly gone to higher-income and higher net-worth households. Lower net-worth households are still struggling.
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Inflation is still low and modest, but there are growing signs that it is starting to pick up.
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