It gives the bond market a comfort level that you have a replacement just as vigilant on inflation as Greenspan was. |
It's been a convenient argument with Bush supporters. They'll continue to cite (the household number,) ... The majority of mainstream economists, headed by (Fed Chairman Alan) Greenspan, look at household data but they think payroll number is more important. |
It's changed a lot of thinking about earnings in the second quarter, |
It's very hard to spin this story positively. My fear is this could drag on for months and months and months. |
Members of Congress, especially Republicans, are beginning to realize that around the country, even among their supporters, they're being viewed as dysfunctional, unable to get anything done. So I think the Republicans are starting to come together, at least a little in the Senate on immigration. |
My bottom line is that this not catastrophic for the Bush agenda, |
My take is that they know they've got a tough selling job ahead, ... I think they have to sell it (the policies) to Wall Street, to the capital, and to the public. The administration's conclusion is that Snow isn't the best salesperson for the job. |
O'Neill's departure removes an impediment for a big stimulus package, ... He had been lobbying against a package, worried about a budget deficit. |
O'Neill's gaffs have hurt him. There aren't a lot of Republicans on the Hill who like him. But he seemed to have the president's confidence, |
O'Neill's gaffs have hurt him. There aren't a lot of Republicans on the Hill who like him. But he seemed to have the president's confidence. |
On one hand, he seems more palatable to Wall Street than Dean, in that his positions on trade and taxes are more moderate. |
One of the big stories coming out of this is the inability to get anything done in the next two years. Therefore ... the budget surplus is going to pile up dramatically because Congress won't agree on big tax cuts or big spending hikes. |
Politically this is very, very clever, ... It puts the White House on the defensive on the whole issue of job outsourcing. There could be some Republicans (in Congress) intrigued by this. But it's way too premature to assume it could be enacted. |
Right now the markets are viewing this as if it's going to be quick and painless. |
Right now, it's open season on him. Most Republicans view him as a liability. |