That's why Fed Chairman Alan Greenspan was so desperate to get rates down - he wanted to make it easier to get through this. The Fed won't be raising rates any time this year I don't care what the economy does.
More Quotes from Maureen Allyn:
I think we are heading into the worst of it. Investors think there we're heading towards a recovery in the next six months and I hope that they are right, but I just don't see the valuations for a huge rally going forward.Maureen Allyn
I have never thought that what a government wants its currency to do makes a hill of difference. What's holding the dollar up is a desire to put money here and a faith in Greenspan and Corporate America. That's all psychology, and it can turn on a dime.
Maureen Allyn
The Fed has always said that they look at domestic considerations. We'll see today if they mean it. I don't really think they will raise rates, but if they do, it will cause tremendous market turmoil because no one in the market expects it.
Maureen Allyn
I think we're going to have to begin to believe that we're not in an inflationary environment. Sooner or later it's going to sink in.
Maureen Allyn
Private sector credit from 1999 through the first half of 2001 was adding 1.2 trillion per year. It was the mother of all credit expansions.
Maureen Allyn
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