The markets are saying (a rate hike) is not only justified, but it's good news. It remains to be seen whether the economy will be stronger than we anticipate.
More Quotes from Wayne Angell:
It reduces the rate of return on that 6.5 trillion hiding in money-market accounts. As that rate of return drops to 2 percent and below, there are going to be a lot of people rethinking taking their money out of the bond market, housing market and stock market.Wayne Angell
Bush has been more open to having more of a bipartisan board than I've seen before. I didn't even give a moment's thought that Clinton would reappoint me.
Wayne Angell
We already thought it was very, very strong and consumer spending has been a big factor, but the underlying tone seems to indicate that overall growth is tapering off.
Wayne Angell
We're not likely to get the bond yield moving through that 4.75 percent level until we get past all this turmoil that is now in the market.
Wayne Angell
The world's central banks have certainly decided U.S. Treasury notes are a better long term investment than gold.
Wayne Angell
Chairman Greenspan's comments went further than previous Fed commentary on recognizing the degree of slowing in the economy and clearly pave the way for the Fed to switch to a neutral directive. Moreover, his comments further encourage us in our belief that the Fed will lower rates in the first quarter of next year.
Wayne Angell
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