Paul Kasriel
Paul Kasriel
along credit curve demand falling fed funds holding indicate keeping level might naturally rate rates slowing yields
There are a lot of crosscurrents now, but falling yields might indicate that demand for credit is slowing down and that the Fed, by holding the fed funds rate where it is, is actually keeping rates all along the curve from falling to their equilibrium level, or to the level where would they would more naturally go.
grade greenspan seeds turn wait whether year
We really don't want to give Greenspan a grade yet. You want to wait a year or two to see whether the seeds turn to weeds.
baton desert housing leader moses promised quite rates somebody taking unusual
There may be somebody else taking the baton now, which is not unusual in a recovery. Housing is typically the leader out of the desert to the promised land; but, just like Moses didn't make it to the promised land, as rates rise, housing doesn't quite make it, either. Other sectors do.