David Jones
David Jones
Twentieth-century British Modernist poet and painter who is best remembered for his long poem "The Anathemata." His other works include "In Parenthesis" and "Cara Wallia Derelicta."
ProfessionPoet
Date of Birth1 November 1895
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The point about labor market weakening suggests the Fed's ... worried about that. That drives home the point they're going to keep these rates unchanged for a long period of time.
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You can imagine scenarios at this point where the Goldilocks economy turns into a nightmare.
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Nothing in these numbers would change the outlook for Fed policy, which is to tighten credit and to try to encourage market conditions that would slow growth to a more sustainable pace this year. The report leaves the Fed on track for a quarter-point hike in February, but there isn't the kind of urgency to warrant a 50 basis point hike.
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It's tough. We need to get our offense going because we are where we are and defense is where we are but when you give up 60-70 points that won't cut it.
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The first half we played decent zone defense. But we had too many turnovers that led to too many easy points for them. Hollidaysburg managed to switch defenses on us and got us confused. Their pressure gave us some problems and we have to be able to make those adjustments.
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It was a very difficult weather scenario that came in. Several accidents were occurring and at that point we decided to err on the side of safety.
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The feeling from Greenspan's point of view is that you don't want a pure academic for this post because that person may not have enough political savvy and enough market sense.
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I think actually the Clinton presidency is going to be hurt enough so that he is going to have more trouble coming through with that contribution to the IMF.
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It has been a great story -- strong growth and no inflation and low interest rates, but my bet is that one area that will be a little bit of a challenge to stocks will over time be interest rates.
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I think we are moving into a very, very dangerous situation whereby we could even come to the stage of a complete confrontation between the Orange and the army and police,
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It is a Microsoft market today. People have had the weekend to think about the government's plan to break it up. We're still looking at a strong economy and there's room for some buying - at least today, bulls are back.
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I think there will be one more quarter-point hike and then the Fed will go on hold for the rest of the year.
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Last summer, there was a meeting of the elders of the tribe at Marty Epstein's house. We were told the theater was in financial trouble and needed new energy and new money.
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Without any question, the Fed is vastly different now in terms of openness and transparency. Greenspan's theme has been the more markets know, the better.