This is kind of capping a string of fairly strong numbers, and I'm even going to have to boost my estimate of fourth quarter GDP up closer to 3 percent. We know the Fed is sitting on the edge of its seat. It's going to make everybody a bit nervous.
More Quotes from Maureen Allyn:
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.Maureen Allyn
Companies have to learn to live with keeping their costs down. They're not going to get pricing power not in our lifetime, I'm afraid. The world is just much too competitive.
Maureen Allyn
This is still very flat inflation. We do not have an inflationary worry.
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
Greenspan's testimony to Congress is always an event and probably more so this time than usual. We are looking at the Fed with a bias to tightening and we have to get some warning of whether he is going to act on that or not. So what I am looking for is a clear signal.
Maureen Allyn
We're finding some footing, but the problem is, the job numbers are lagging. Even if we get economic growth, we're still going to see job losses. We're really at a very critical moment where we kind of have to start seeing a little bit of good news or the bad news starts piling up.
Maureen Allyn
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