Robert Brusca
Robert Brusca
afraid brakes fed foot investors people perhaps regular start tapping
Most people were afraid that we'd start to see some inflation, but I don't think there's much here. The Fed still has its foot on brakes and will keep tapping them at regular intervals, but perhaps not as much as investors had been expecting.
afraid bullet difficult economy federal growing hard inflation kinds means numbers raise rates reserve sort
It means we sort of dodged another bullet on the inflation front. These kinds of numbers put the Federal Reserve in a difficult box. We don't have inflation, the economy is growing too fast, they are afraid it won't keep up, but it's hard for them to raise rates without any inflation on the doorstep.
fed limits slower suggest
I think we're going to have a slower recovery, ... There are other things that suggest there are limits to what the Fed can do.
challenge control danger history lessons party
I think that one of the lessons in history is that if any party has too much control, the danger is that they will go overboard. The challenge for this administration is going to be to keep control of things.
aware energy people prices
People are aware of what energy prices are doing to their pocketbooks, and their company,
consumer economy equity everybody happy housing increase negative partly people performance pull quite savings spending supported
While everybody is very happy with the performance of the economy under Greenspan, it's come at quite a price. We have a negative savings rate. The consumer has been out spending his and her income, partly supported by an increase in housing prices, where people had to pull a lot of the equity out of their home. Well they can't do that again.
bit consumer growth highly linking output spending
While consumer spending has sparked up a bit recently, linking it to better output growth is still highly speculative.
concerns continues evidence fears inflation
While concerns about inflation swirl, the evidence continues to give those fears little substance,
against maybe reason suggesting
We have a lot of things suggesting that maybe things have improved, ... I don't see any reason to go against the numbers.
affected economy economy-and-economics gives magnitude
It doesn't tell you anything about the economy at this point. It just gives you some idea of the magnitude of the displacement in the affected area.
answer educated education people simply unemployed
There are so many low-paid people who are educated that education is simply not the answer. The answer is, you will be unemployed if this is not stopped.
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Where was wealth effect during that time? ... The consumer didn't die. People lost all kinds of money in the stock market, and it didn't seem to affect them.
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We continue to see Federal Reserve officials saying they want the economy to grow as fast as it can, but they're the ones who determine where that speed limit is.
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Some of the signals pointing to job market improvement simply did not bear fruit this month. The report makes the economy look even less like it is building a head of steam.