Neal Soss
Neal Soss
accustomed comments government officials
We're accustomed to the insights of government officials being authoritative. Greenspan's comments may be wise, but they aren't actionable anymore.
economy fed funds hard inflation kinds lowest medicine moment percent problems rates
The economy is doing fine. We're at the lowest unemployment rates in a generation. Inflation is hard to find. There's just aren't the kinds of problems that would induce to you take new medicine. So if the medicine at the moment is a 4-3/4 percent Fed funds rate, keep it there.
direction disappear emphasis maybe readily time tweak word words
The word 'measured' could very readily disappear now. They'll probably tweak the words one more time in the direction of being that much more open-ended, but maybe with the emphasis on 'ended' than 'open.
economy federal good market news perspective pressure takes
The good news from market perspective is that if the economy is slower, all else equal, that takes pressure off the Federal Reserve.