I'm not sure Taylor has the political savvy for the job. Greenspan had been in Washington a long time and had a solid reputation. It was no surprise when Volcker was replaced by Greenspan because he was the obvious choice waiting in the wings.
More Quotes from Wayne Ayers:
We're nowhere close to the Japanese example. When you have real deflation as they have in Japan, consumers expect prices to be lower, and they defer purchases, which makes the spiral worse. That's not an apt description of what the American consumer has been doing.Wayne Ayers
I think you would be hard-pressed to find an economist, aside from the supply-siders, who would argue against the idea that deficits matter.
Wayne Ayers
I suspect they will not have a neutral bias they will indicate risks are on the downside. I think we will, on the production side, see better numbers in the second half of this year, but I don't expect any convincing improvement in the labor market before early next year.
Wayne Ayers
He's instantly recognizable in financial circles and has international stature.
Wayne Ayers
There's no case for no cut at all at this point. There have been better economic numbers, but policy makers expect to see that. If I interpret what they've been saying correctly, this economy could grow 4.5 or 5 percent for a year without putting upward pressure on inflation.
Wayne Ayers
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