For the Fed ... they know there will be disruptions in September from Katrina, but policy is forward-looking and takes six months to have any effect. If the Fed can withstand the political heat, they will stick to their guns with a quarter-point rate hike.
More Quotes from Michael Englund:
What we are seeing is that these numbers are coming in line with other confidence figures, which shot ahead in May and June with oil prices falling, and now with oil prices soaring, we are seeing the effect from higher prices at the pump.Michael Englund
Today's report simply reinforces the belief that it will be 25 points instead of 50 points.
Michael Englund
The story is all about oil. This is still a fluid situation but we have enough information to feel comfortable lowering our economic growth estimate even further.
Michael Englund
We would not be able to land (in Stockholm) until 130 a.m. and that is not reasonable.
Michael Englund
Even with the weakness in the headline number, the rest of the story looks good. June, July, August have all shown strength in retail sales outside of autos.
Michael Englund
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Based on Topics: Politics QuotesBased on Keywords: quarter-point
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