I think the Fed will act aggressively. The timing remains to be seen, but both Main Street and Wall Street are pleading for further rate cuts, so I think Greenspan will respond. The sooner and deeper a rate cut, the sooner consumer and business confidence should improve.
More Quotes from Oscar Gonzalez:
I don't think recent price data suggests that inflation is dead. The Fed has to worry about whether or not it is keeping inflation under control and it would probably like to err on the side of caution.Oscar Gonzalez
I would think the probability of a move (on interest rates) would be somewhere around the 40 percent range.
Oscar Gonzalez
Inflation has picked up and there is some pricing power evident. Certainly by saying that, the Fed is telegraphing that they could easily increase rates by 50 basis points if they had to, even though at this point there doesn't seem to be a need for more than a quarter-point hike,
Oscar Gonzalez
The numbers reflect a little bit of the unwinding of consumer spending, ... It's not all of that was unexpected, given the (weak) figures we had on retail sales.
Oscar Gonzalez
The longer we go along this path, the clearer it becomes that the Fed may have to jolt consumers and investors with a more aggressive policy,
Oscar Gonzalez
The trend is now clear. Inflationary pressures are building and prices are rising only the pace remains at issue, ... September's figures may prove to be just a spike, but we can't dismiss the growing risks of a sudden acceleration in inflation.
Oscar Gonzalez
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