James Glassman
James Glassman
James Kenneth Glassmanis the founding executive director of the George W. Bush Institute, a public policy development institution focused on creating independent, non-partisan solutions to America's most pressing public policy problems through the principles that guided President George W. Bush and his wife Laura in public life. The George W. Bush Institute is based within the George W. Bush Presidential Center on the campus of Southern Methodist University in Dallas...
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I think anybody in the Fed chief position realizes that the job is not about proving credentials. It's about doing what's right for the economy,
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I saw in Greenspan somebody who thinks differently about the world than I did. Over time, I watched this process and (realized) that's what gave Greenspan such an edge. The real edge he had is that he's fairly humble and realizes that no human being knows the answer, and he listens to market signals for guidance.
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I think they'll just do 50 (basis points), and leave in their statement it open-ended because the market is already anticipating a fair amount more easing by the Fed anyway, ... We'll hear more in Mr. Greenspan's testimony (before Congress) in February about what they plan to do.
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I get the feeling that the economy was really wanting to move ahead more quickly last year, then hit a bunch of speed bumps. I get the feeling companies are ready to start building their businesses and do lot of what normally happens in an expansion.
half labor picking
It's really picking up half of labor pay.
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It's reasonable for investors to be concerned with inflation, given six months ago we were talking about deflation. What we're seeing is the purchasing managers are telling us that the costs of some materials are going up. The question is, can it be passed on to consumers?
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Skeptics will point to other waves of innovations in the past, but things are happening at lightning speed here. Two years ago no one knew what 'dot com' was.
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The labor force is very flexible. If wages go up, it may suck all these workers back in.
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The consumer is slowing down gradually, so anybody dealing with a customer is going to find that it's a lot more competitive.
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The economic loss from the one-day demonstration may not be as big as the realization that (illegal immigrants make up) an important part of the economy. It's probably a small number only because it's a one-day event.
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the long-run budget impact, despite all the screaming and hand-wringing about this...is really very small, very modest.
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Inflation springs from how intensely resources are used. There is an enormous amount of unused capacity sitting out there, and it takes a lot of growth to absorb that.