Bill Dudley
Bill Dudley
William McGarvey "Bullet Bill" Dudleywas a professional American football player in the National Football League for the Pittsburgh Steelers, Detroit Lions, and Washington Redskins. He was inducted into the Pro Football Hall of Fame in 1966 and the Virginia Sports Hall of Fame in 1972...
ProfessionFootball Player
Date of Birth24 December 1921
closed crack depend door fed further market statement whether wide
It'll depend on how the market interprets the statement and whether or not they can tell if the Fed closed the door to further hikes. If they haven't, they'll want to know how wide that crack is.
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The problem with retaining your flexibility is you also create uncertainty. I'd be very pleased if the Fed took some new initiatives, but I'm not expecting it.
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What's really happened is technology has basically favored capital markets over depository institutions because it has reduced the cost of making transactions.
bit buy computer computing early fourth people prices spending
Would you really buy a computer early if computing prices are falling? ... You'll probably have a bit of a bulge in spending in the fourth quarter, but we think people are overstating the benefits.
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The rate of capacity utilization would have to go up pretty dramatically for the Fed to tighten.
coming core expectation feed finished gaps goods higher inflation largest nearly past percentage points prices
Over the past year, core intermediate goods inflation has been nearly 5 percentage points higher than core finished goods inflation. This is one of the largest gaps ever, and reinforces our expectation that a part of this early-stage inflation should feed through into finished goods prices in the coming months.
economy good terms
This is a pretty good report, I thought, in terms of the economy getting better.
payroll skeptical somewhat
I think you have to be somewhat skeptical about the payroll number.
fed financial past volatile
Past transitions at the Fed have often been accompanied by volatile financial markets.
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Because it's better than doing nothing. A wild boar charges you and you shoot four of the six shots in your gun at it and it doesn't fall. Do you look at your gun philosophically and think, the first four shots didn't work, why bother?
advocate bond continue decision expect market overdoing positions positive rally relatively treasury
The Fed's decision should be relatively positive for the bond market. They are not overdoing it and will do more if needed. We continue to advocate long positions and expect the Treasury bond market to rally considerably further.
advocate bond continue decision expect market overdoing positions positive rally relatively treasury
The Fed's decision should be relatively positive for the bond market, ... They are not overdoing it and will do more if needed. We continue to advocate long positions and expect the Treasury bond market to rally considerably further.
evidence market nervous transition
There's very little evidence that the market is nervous about the transition at this point.
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In our view, Fed officials are probably at least as nervous about the inflation outlook as a few months ago.