Diane Swonk
Diane Swonk
fed sure today
What the Fed told us today is, we don't think we are done yet and we are not sure when we will be done.
effect running slowing winter
We weren't running our heaters very much this winter and this would have the effect of slowing down production,
fed interest involved rate save tools wall
What can the Fed do about WorldCom? This is not an interest rate problem. This is not something they should be involved with, ... I'm sorry, Wall Street, but you can't look to the Fed to save you when they don't have the tools to save you on this one.
brought losses nation recover wealthy york
We are a wealthy nation that rebuilds and fortifies. Ultimately, New York is going to more than recover the losses that this brought on.
position screw taking
Why screw around? If they're going to cut, they'll go a half-point. They're just not in a position to be taking risks.
consumer fast inflation perspective question slowing whether
The question is not whether the consumer is slowing. From the Fed's perspective, it's whether the consumer is slowing down fast enough to keep inflation in check,
bond market speech stability telling traders worst
This speech is telling traders that the stability they've come so well to know is their own worst enemy, ... the bond market has not priced in enough risk.
clouds expecting lining record remain sales silver territory
We were expecting sales to remain in record territory today, not set new records, ... This really underscores the silver lining to clouds abroad.
begin boil concerned cycle fed flames pot time turn
We are at a time in the cycle when you don't need to just turn down the flames on the fire, you have a pot that is already boiling. What the Fed is concerned about is that even as you begin to turn down the flames that pot will still boil over.
frankly hitting percent pressures productive start until wage
We're more productive than we were in the 90s and frankly we didn't start hitting wage pressures in the 90s until about a 4-3/4 percent unemployment rate.
enormous front
Up front there are going to be enormous losses.
bad indicator people secure whether
very bad indicator on whether or not people feel secure about their jobs.
argue begin bulk cuts fed feeling pulling rate time
There are many who, on a theoretical basis, would argue that now is the time the Fed should begin pulling back because we'll be feeling the bulk of the rate cuts when we already should have started tightening again.
fed seen softer stay tone
We have seen a softer tone in their write-ups. I think there is a real sense that the Fed is going to stay on the sidelines.