The world's central banks have certainly decided U.S. Treasury notes are a better long term investment than gold.
More Quotes from Wayne Angell:
I've never seen a time when there's been such a blow-up of the kind of risk to the U.S. economy. We've taken a 2 percent trade drag for the first three quarters of 1998 and yet we're still averaging a 3.25 percent growth rate for these first three quarters.Wayne Angell
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.
Wayne Angell
Alan Greenspan tends to give a tougher talk in a speech when he is not going to raise rates than he does when he is going to raise rates. He either barks or he bites, and I think he is barking.
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
The Federal Reserve engages in a series of rate hikes at the tail end of an expansion when inflation is accelerating. What the Federal Reserve has done today is they made that less likely and thereby this expansion is more apt to go on as long as the year 2000.
Wayne Angell
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