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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We're seeing it already. If you look at Wal-Mart's numbers and strip out the effect of grocery-store sales, there are signs of stress behind the scenes there, ... What many of us are concluding here is that ... because of what is going on with energy, we will probably see a much softer fourth quarter.
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Most of the (economic) numbers have been decent, but people just can't have a positive view on the economic trends til they can see the other side of these Middle East developments.
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Usually economists are figuring things out after the fact, especially the Fed chairman.
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There is a way they come to a conclusion, and it is your job to not constantly be picking fights with it,
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The extraordinary events of the time make a person. He'll be bigger than life because of that.
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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 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 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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It's setting up for a better performance by the consumer.
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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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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.
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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.