The only reason they won't cut is because Alan Greenspan suggested he wasn't yet in the mood to cut, ... He's probably a Cubs fan as well -- they always say, 'Wait 'til next year.' In this case, Greenspan says, 'Wait 'til the second half.'
More Quotes from Paul Kasriel:
We should get a little better growth in the second half -- but not enough. By the end of the year, maybe we will have enough to stabilize the unemployment rate, but I think we will probably see a further drift up in the unemployment rate.Paul Kasriel
I have a firm belief in the marketplace, ... Every day, every seller, whether it's a seller of gasoline or a seller of services -- an employee --, wants to raise the price of his or her product, but they face competition. If I want a raise, but there's someone else out there willing to do my job for less, then my boss is going to tell me that if I want a raise, get on the elevator.
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
The problem is that labor has basically priced itself out of the market. We had a very sharp run up in compensation costs in the late 1990s. People got too expensive and they're still too expensive.
Paul Kasriel
He goes up to Congress, and they ask him questions about everything except monetary policy. It's unprecedented that a central banker is sort of viewed as an omniscient economic policy czar. It's not his responsibility.
Paul Kasriel
You're effectively lowering the cost of capital for corporations, and anything to lower that cost will help in inducing more plant and equipment spending.
Paul Kasriel
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