Gridlock leads to more debt reduction than either tax cuts or new spending. Because what we will be left with at the end of the day are larger surpluses.
More Quotes from Rob Palombi:
The general feeling is that the Fed can afford to bide their time on Oct. 5.Rob Palombi
What the Fed may do right now is prepare the market for a switch to a tightening policy from a neutral policy, and that may happen as soon as this month. There's always been the expectation that the economy would slow and ease labor market conditions, but that doesn't seem to be happening.
Rob Palombi
It's always been a contentious issue, though both the Ministry of Finance and the Bank of Canada, for the record, have said they're against a common currency. I think over a very long time you'll see an amalgamation of currencies, but that's a very long way away.
Rob Palombi
The underlying trend is one of strong consumption growth and strong spending -- not something the Fed is going to consider particularly positive. The Fed's series of interest rate increases have not yet been enough to significantly deter the consumer from spending.
Rob Palombi
There's also concern the Fed will move toward a tightening bias, perhaps as soon as this month.
Rob Palombi
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