I think the Fed felt this was not the time to be cautious and conservative.
More Quotes from Wayne Ayers:
It's clear the consumer has progressively turned more cautious and conservative. Given that, and given that business capital spending has yet to come back, how long can this recovery keep on going These numbers certainly make that a legitimate question.Wayne Ayers
I think if you take those two things together, there is some hope.
Wayne Ayers
The Fed is being very serious when it says this labor market remains exceptionally weak -- in fact, it's the weakest since World War II, by many measures. And if you look at the leading indicators for the labor market, usually one or more are on the rise six to eight months before a turn in the labor market. Right now, none are on the rise.
Wayne Ayers
The good news is that this is going to go directly to the corporate bottom line. That's a real plus for profits, which means a real plus for corporate spending and the recovery going forward.
Wayne Ayers
I think their desired stance is to stand pat for an extended period of time rather than cut rates, unless they are confronted with an external shock to the global financial system.
Wayne Ayers
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I do expect that the President will say something at the beginning of his remarks today, at the conversation.
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I eat whatever I want, junk food included.
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