The good news from market perspective is that if the economy is slower, all else equal, that takes pressure off the Federal Reserve.
More Quotes from Neal Soss:
The economy is doing fine. We're at the lowest unemployment rates in a generation. Inflation is hard to find. There's just aren't the kinds of problems that would induce to you take new medicine. So if the medicine at the moment is a 4-34 percent Fed funds rate, keep it there.Neal Soss
Once upon a time, business solved its problems by raising prices. Now, they solve their problems by cutting costs and getting better productivity. It reflects that productivity but doesn't force pricing, doesn't constrict profit margins. It's what an economy's supposed to do.
Neal Soss
The word 'measured' could very readily disappear now. They'll probably tweak the words one more time in the direction of being that much more open-ended, but maybe with the emphasis on 'ended' than 'open.
Neal Soss
This committee still seems predisposed to raising rates a bit more, and the burden is on the data to tell them otherwise.
Neal Soss
Market participants may well associate bad news on the economy with an increase in fiscal spending and lower bond prices.
Neal Soss
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I will continue to stay very focused on the economy.
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