Robert Brusca
Robert Brusca
change plans spending
I have no plans to do anything with it ? probably put it in the bank. I'm not going to change my spending habits.
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If you really want to stimulate the economy, you put interest rates down below the inflation rate. The lower the inflation rate goes, the harder it is to get the federal funds rate down below that.
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The breadth of inflation is contained. Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
breadth impressive inflation pressures report signals
The breadth of inflation is contained, ... Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
broken fast fuzzy growth job remain strong thinking
Back before the recession, we had strong job growth and no inflation. There's fuzzy thinking going on here -- I thought we'd broken the old idea that strong growth is bad. As long as productivity growth can remain high, fast job growth is not a problem.
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That mucked up trade flows, affected our economy and brought an unexpected easing by the Fed. I wouldn't downplay the risks out of China.
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Credibility is a key here. The Fed can't go out hammering away at some of these issues and then say, 'Oh, never mind,' when one of the key dates comes. So I think that's something else that sort of forces the Fed to put its cards on the table.
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During this recent period there may be some extra spending on the part of those recovering from hurricane disasters. But it is also true that comprehensive consumer spending has been outstripping income growth over this period,
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Each Fed Chairman has to go through his own, on-the-job, trial by fire. There is no other way.
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No matter which candidate you support, you have to realize there will be a lot of discord in this country, ... And no matter how much you like your candidate, you realize neither one of these guys has a magic bullet for the economy.
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It's like an old Jonathan Winters movie - 'The Russians aren't coming! The Russians aren't coming.' And they'll probably never be here.
fresh market view
It makes sense to take a fresh view of things, and then the market readjusts,
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It's like saying we're not going to hit as hard if you fall from the 50th floor of the Empire State Building instead of the 100th floor of the Empire State Building. The question is, what floor are you going to jump from and is it really going to hurt you?
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It means we sort of dodged another bullet on the inflation front. These kinds of numbers put the Federal Reserve in a difficult box. We don't have inflation, the economy is growing too fast, they are afraid it won't keep up, but it's hard for them to raise rates without any inflation on the doorstep.