The Fed was concerned with the valuation of the stock market when it was 6,200. Now it's at 7,600. And so I think some of those signs may be signs of what would cause the wealth effect and what would cause future inflation. I think that's why they may look at raising them.
More Quotes from Robert Froehlich:
There was a concern that capacity utilization would be a little higher because the auto production has really been up a lot and there was concern that number would spook the market.Robert Froehlich
I think earnings are going to surprise on the high side. Our expectations were much lower for earnings because we thought the economy was going to be very slow in the third quarter and that didn't happen.
Robert Froehlich
The predicament that we're in with our economy is the mistake the Fed made two years ago. I believe they know they made a mistake, and they have to give it back to us.
Robert Froehlich
I think what's happening is we're having a struggle between very strong earnings (and) the counterbalancing force is the concern of rising interest rates, and so it's the fight between those two things that I think is keeping pressure on the market.
Robert Froehlich
I think what's happening is exactly what the Federal Reserve Board wanted to happen. They wanted to change their bias from neutral to tightening to slow down the markets - and that is what's happening today.
Robert Froehlich
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