William Fitzgerald
William Fitzgerald
aggressive change chose dropping inflation instead language modest rid step toward
Instead of dropping 'measured,' they chose language that acknowledges the modest pick-up in inflation pressures. This may be a step toward getting rid of 'measured;' of being more aggressive without indicating a change in the plan.
below entire income months portfolio remains slightly universe
Our portfolio remains slightly below duration. But then, the entire fixed-income universe has been defensively positioned for months now.
normally pull punches time upbeat
Normally Greenspan's pretty cautious, but this time he didn't pull any punches in being upbeat on the economy.
commodity core increase prices waiting whether
What we're waiting to see is whether the increase in commodity prices will sift through into core inflation.