Wayne Ayers
Wayne Ayers
confronted cut desired extended external financial global pat period rather shock stance stand time unless
I think their desired stance is to stand pat for an extended period of time rather than cut rates, unless they are confronted with an external shock to the global financial system.
against argue aside deficits
I think you would be hard-pressed to find an economist, aside from the supply-siders, who would argue against the idea that deficits matter.
consumer continues despite economy fears general hang low message savings
I think the general message here is that despite the fears about a low savings rate, the consumer continues to hang in there, and that's essentially the only thing that's going to keep the economy on track.
almost biggest declines employment strange sure thinking
I find it strange that we had one of the biggest declines in employment in almost two years and no one noticed, and I'm sure they're thinking the same way over there at the Fed.
I think if you take those two things together, there is some hope.
across alan anyone areas best economy fearful greenspan guess happen insurance point policy running seen taking weakness
I don't think anyone has seen this happen so quickly. I don't think Alan Greenspan has seen it happen so quickly. So he's taking out an insurance policy for himself. My best guess is that they (The Fed) are running scared. At this point we've seen such pronounced weakness across all areas of the economy that I think they're fearful this downturn is going to be very different than any in the past.
came consumers hanging higher robust showing
It came in a little higher than expected, but I take it as more of the same -- consumers are hanging in, but they're not showing robust enthusiasm.