If he starts to see softness in the economy, and if in fact inflation is moderating, he will want to cut rates a little bit in order to have a soft landing.
More Quotes from Paul Kasriel:
measure of the financial deficit that households are running at an annualized rate.Paul Kasriel
We're in a situation where the economy is the most highly leveraged in the post-War period. If the Fed had to raise interest rates, that could bring the whole system down. And it's not clear that holding rates where they are or lowering them will save us from another recession.
Paul Kasriel
Up until 2000, households in the post-War period had never experienced a decline in their net worth on a year-end to year-end basis, ... But they did in 2000, they did in 2001, and they're on course for it again in 2002.
Paul Kasriel
Now, of course, a lot of it ... was in auto sales and production is probably going to flatten out in the months ahead.
Paul Kasriel
We're a what's-my-monthly-payment nation. The idea is to have my monthly payments as high as I can take. If you cut interest rates, I'll get a bigger car.
Paul Kasriel
What the Fed has done in the past two years has driven us deeper into debt, ... and since I think that is one of the issues ailing the economy now, I don't see going deeper into debt as a cure.
Paul Kasriel
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