“The difference between management and administration (which is what the bureaucrats used to do exclusively) is the difference between choice and rigidity.”
“It's one of many indicators the Federal Reserve is watching, and it just adds to the general picture of an exuberant -- of a very, very strong economy indeed.”
“What is called for at the present time is prudence in fiscal policy and a continued application of the brakes in Federal Reserve policy. That's the policy that will get us into a future that where we see continued growth and very moderate inflation.”
“Growth continues at a very high pace and energy prices have increased considerably over the past year, so the Fed will say, 'okay, we have to prevent those energy prices from being built into all goods and services,' ... The Fed is not going to ease its stance on raising rates.”
“The (stock) markets have basically ignored the 1-percent-plus increase in the fed funds rate over the past year, ... The fixed-income market where these companies do their borrowing has not as yet responded as effectively as the Fed may have liked.”
“I think the Fed is still on track to raise rates until the growth rate slows or until we see negative numbers on inflation, ... Only if we had a real stock market rout would they say, 'OK, time to hold your powder right now.'”
