Stephen Gallagher Quotes

The Fed is worried about pass-through, and even if they don't see it in the September numbers it won't make them feel secure about the future. This will help the markets remain confident that inflation is low but not necessarily convince the Fed.

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The housing numbers look pretty strong, but we have to discount them due to the mild weather effects. We are getting confirmations from the companies themselves about lower orders.

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We have a very healthy economy with little inflation. We could have this kind of growth for the next couple of years.

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It may be even more that one (rate hike). If they move once there is always another chance for another one, but I think the message that we got from Greenspan today is that it will not be an aggressive increase in rates.

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It's a very strong report. We're seeing a lot of strength in the consumer and business sectors.

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This may be a natural reaction to the war, but the losses are deep and spell increasing trouble for the economy if uncertainties do not lift very quickly.

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This is negative news and giving the market reason to pause a little. The core number is up 0.3 instead of 0.2. It's all it takes.

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Coming out of Greenspan's shadow is a difficult enough task for anyone. The burden of that task is complicated by the immediate economic situation.

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Retailers have no pricing power themselves, as evidenced by all the discounts they had to offer to generate holiday sales. In terms of volume, they succeeded, but not at the level of profitability they would have liked.

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On the headline, it's a great report, up 5.8 percent. The recovery is under way. But we're also beginning to see a bottom in durable equipment declines, which is important because it's about corporate profits. But we still need that to be stronger to make sure that this recovery is here to stay.

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Businesses have been through a lot over the last few years, and many of them don't have a great deal of tolerance for uncertainty.

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Investors maintain a healthy economic growth outlook, but now with lower inflation and interest rate risks.

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The inflationary implications drawn from the combination of exceptional growth and higher inflation could become more ominous when we incorporate the tightening labor market trends.

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Unit labor costs moving up is seen as fanning some of the Fed's concerns on inflation, but I doubt from the Fed's perspective that this changes their view very much.

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