Diane Swonk
Diane Swonk
frankly hitting percent pressures productive start until wage
We're more productive than we were in the 90s and frankly we didn't start hitting wage pressures in the 90s until about a 4-3/4 percent unemployment rate.
catching earnings fed market positive third until willing
The Fed is willing to overshoot the mark. I want to underscore that we're catching up. We're getting the market back in line, but we're not going to see positive earnings from that until we get into the third quarter,
fed guess move sidelines until
It's my guess the Fed will probably move to the sidelines until at least November,
cards either house sort strong
We've got this sort of house of cards. It is either a strong house of cards or the whole thing could implode on us. It could go either way.
fake late overall performance profit saw strongest
We've got the strongest overall profit performance in 30 years, and these are real profits, not the fake ones we saw in the late 1990s.
position screw taking
Why screw around? If they're going to cut, they'll go a half-point. They're just not in a position to be taking risks.
driving early economic growth less means played playing role twice
Even more than the early 1990s, this is a jobless recovery. Productivity growth is playing twice the role it played in the early 1990s in driving economic gains, which means less payrolls growth.
clouds expecting lining record remain sales silver territory
We were expecting sales to remain in record territory today, not set new records, ... This really underscores the silver lining to clouds abroad.
consumer credit economy goes haunt major
When the economy goes back down again, years down the road, will consumer credit be a major problem, like it was in the 1990-91 recession? ... Yes, it could come back to haunt us. But right now, it's a macroeconomic plus.
fed interest involved rate save tools wall
What can the Fed do about WorldCom? This is not an interest rate problem. This is not something they should be involved with, ... I'm sorry, Wall Street, but you can't look to the Fed to save you when they don't have the tools to save you on this one.
effect running slowing winter
We weren't running our heaters very much this winter and this would have the effect of slowing down production,
fed sure today
What the Fed told us today is, we don't think we are done yet and we are not sure when we will be done.
argue begin bulk cuts fed feeling pulling rate time
There are many who, on a theoretical basis, would argue that now is the time the Fed should begin pulling back because we'll be feeling the bulk of the rate cuts when we already should have started tightening again.
meetings move shore
If they move between meetings it's usually a move to shore up confidence.