He didn't give the impression that the Fed is panicking. |
He was not especially gloomy about long-term economic prospects, |
He'll want to do whatever is necessary to counter this exaggerated image of 'Helicopter Ben'. That means he doesn't want to show weakness in regards to enemy No. 1, and that's price inflation. |
I don't think it's going to stop. It may be a fine opportunity to lock in a fixed rate that may prove to be relatively attractive historically. |
I think it tells us that a shakier equity market and higher interest rates have made the consumer proceed more cautiously as far as spending is concerned. |
I think people believe (Fed Chairman Alan Greenspan) is not going to shock the market with a half-point rate hike, ... There's no reason to shock the credit market and the economy with a half-point rate hike. |
I think that the Fed might view the latest decline in the dollar exchange as substituting for the stimulus that would otherwise would be supplied from a Federal Reserve rate cut, |
I think the bottom right now is perhaps about 5-3/4 percent and that is contingent on further weakness in East Asia that adds to uncertainty regarding the U.S. economy in 1998. |
I think the market's getting geared up for that release. Many are looking for a large increase (in non-farm payrolls). |
I think there's a very good chance we could see the Federal funds rate rise to at least 5.25 percent by year's end, ... If not up to 5.5 percent, which would be a complete reversal of late 1998's three-staged reduction. |
I think there's a very good chance we could see the Federal funds rate rise to at least 5.25 percent by year's end. If not up to 5.5 percent, which would be a complete reversal of late 1998's three-staged reduction. |
I think this testimony is much more confident. His worry that the improvement will not be sustained is less pronounced. |
I think what you do see is somewhat of a reversal of that flight to quality, of that strong extraordinary aversion to risk, |
I would say they're (the Fed) going to take a bye this time around. That's because there ought to be a second consecutive weak retail sales report. We're going so far as to say retail sales are going to go down again after having dropped in April. |
I wouldn't be especially concerned about a major episode of financial distress resulting from the recent and forthcoming Fed rate hikes. I don't think it would be enough to cause pain -- unless you have people managing financial institutions being very reckless in their oversight of the situation. |