Fed policy-makers think their job now is to play a supporting role. They kind of want to drift into the background.
More Quotes from Paul Kasriel:
You can't make it up on volume if you're borrowing at 4.25 percent and lending at 4 percent.Paul Kasriel
If people start losing their jobs, ... it's going to be hard for them to keep current on all that debt.
Paul Kasriel
If the Fed pauses here, rates will come down, the house ATM machine will get filled up again, and we can all go back and do more refinancing. But if they keep going, like some people believe they will, then we will have a recession in the second half of 2005.
Paul Kasriel
We really don't want to give Greenspan a grade yet. You want to wait a year or two to see whether the seeds turn to weeds.
Paul Kasriel
If Republicans were to regain control of the Senate, the probabilities of some major tax cuts would go up quite dramatically. If those tax cuts were implemented, this would have a positive impact on both the economy and the stock market.
Paul Kasriel
All the data suggest the labor market is improving -- perhaps not as fast everyone would hope and want, but it's better than deteriorating.
Paul Kasriel
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