Allen Sinai
Allen Sinai
fed greenspan influenced president suspect
I suspect that on Fed decisions, the president has been very much influenced by Mr. Greenspan. Greenspan and Cheney go back.
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What we're seeing is aggressive taking out of insurance by the Federal Reserve to make sure we don't have anything like the 1920s or 30s happen.
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If inflation gets out of hand, the Fed will have to raise interest rates more than is envisioned right now. Oil and energy can do it.
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The staying power of the rally is the question mark. You have to remember the views held by the Fed on March 28 are not necessarily the views held when they meet next on May 10.
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I think that Greenspan will rank as one of the most effective and innovative Fed chairman that we have had -- a home-run champion.
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It is causing some imported goods prices, which were falling a lot a year ago, now to start rising and this is outside of oil and energy. That's just one more ingredient that says there's more risks that inflation will go higher than lower.
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With oil on the rise, we're in danger of a dark cloud moving over the market in the near term.
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When the growth rate is high, the pie is bigger and everybody gains. If the pie grows more slowly, everybody loses.
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Those with an academic approach bring really quite a keen mind to the party but not necessarily an awareness of the reality of the markets and economic activity.
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From the equity point of view, things are absolutely superb. You need a magnifying glass to find something wrong with the economy.
price stability
I don't think we have price stability any more.
correction
For the U.S., the correction is essentially over.
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He didn't go to one of the top schools - Harvard or MIT or Stanford or Northwestern. I think that was an advantage. He didn't get brainwashed into one of the doctrines.
events rather shape views
He let events shape his views, rather than let doctrinaire views shape policy.