Anthony Crescenzi
Anthony Crescenzi
below close originally recession
I'm struck, ... Originally I thought that in a recession we could get below 5 percent, but we're not even close to one (a recession.)
events generally hitting losses microcosm notion pose
It is a microcosm of events generally hitting the market, ... and it reinforces the notion that there are yet-to-be-reported losses at other institutions that would pose systemic risk.
consistent figure inflation left moving rate slowly
What you're left with is a figure consistent with the inflation rate slowly moving upward,
numbers
That was the key. All of those numbers were bearish for the market.
cut given market program
How in the world could he be unfriendly given that they just cut rates? He's got to keep on with the program -- which is to keep prodding the market to stabilize.
consumer due friday inflation news next price producer tuesday
The inflation news due out on Friday with the producer price index and next Tuesday with the consumer price index will probably be unfriendly,
japanese robotic statements
And it was just more robotic statements about the Japanese yen.
comments either hoping people provides rarely rate signal
The comments don't hint either way really. People were just hoping for a signal about the rate move, and he rarely provides that.
acting behavior fed resolve
The market's applauding the resolve of the Fed and acting accordingly, ... In that way, its behavior is rational.
further low market percent rate reason
The market has put a low probability on further rate cuts, and I think that is part of the reason why we can't get to 5 percent that readily.
cut draw greenspan market morning quarter rate
The market has priced in a rate cut, of at least a quarter point, ... and this morning it was for a rate cut of .75 - and I think that is where Greenspan would draw the line.
conditions financial market near points
The market has done part of the job, but this tightening is not yet substantial -- financial conditions are still near their loosest points in many, many years,
equity
And if not for the gyrations in the equity market, it would have been a lot thinner.
confidence durable effect figure gets goods main orders rate street unlike
The jobless rate gets a lot of play on Main Street -- it's a figure that Main Street completely understands, unlike durable goods orders and things like that, ... It can have a big psychological effect on confidence and spending.