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My Favorite Quotes
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 Dominic Konstam - “People are scaling back the idea that the Fed definitely has to go beyond 5 percent.”
 Dominic Konstam - “It's hard to look at this report and be even more convinced that if housing slows down, there's nothing to replace it in terms of labor income. It leans slightly more to the bearish than the bullish side for the market.”
 Dominic Konstam - “That made a lot of people think that the Fed couldn't wait until March 20.”
 Dominic Konstam - “The inflation story embedded in this report is really not that bad. People are coming back into the labor force and wage pressures aren't showing, so this is generally good for bonds.”
 Dominic Konstam - “The path of least resistance is flattening.”
 Dominic Konstam - “The obvious point to take from this meeting is that the Fed is giving the bond market no indication they are close to being done.”
 Dominic Konstam - “They have to tread carefully, they don't need to raise rates so they become restrictive as there is no inflation, so they are fumbling for a neutral funds rate.”
 Dominic Konstam - “The front end of the curve tried to rally a little bit and there was a trade down in the belly of the curve. We expect the Fed to cut rates another quarter-percentage point in January and for federal funds to be at 1.5 percent in the middle of 2002. We're looking for a recovery in the third quarter of next year.”
 Dominic Konstam - “I'd be surprised if he gives us anything new in content.”
 Dominic Konstam - “Claims took people by surprise. It makes it clear the Fed has not gone too far.”
 Dominic Konstam - “Broaddus just reminded everyone that the Fed is going to raise rates. He is clear that the inflation data has got their attention and that the Fed is much more wary of inflation.”