Greenspan's comments did little to build confidence, ... The main catalyst today was to back away from risk and try to buy a bit of stability.
More Quotes from Alan Ackerman:
When a company reverses itself in this manner, it puts investors ill at ease,Alan Ackerman
Rate hikes bite different sectors of the economy at different rates. For example, one of the key areas that was hit hard and appears to be slowing down is housing. Consumer spending will take some time to slow down, maybe three to six months out. But in any case, what the Fed is targeting is GDP of 5 percent this year and a GDP hopefully next year of closer to 4 to 4-14 percent.
Alan Ackerman
There are fewer and fewer corporate CEOs who seem bullish on their own business.
Alan Ackerman
I think that the wide swings in the market created a lot of pain. We have a lot of walking wounded among portfolio holders, ... And many institutional types decided to purge problem stocks from their portfolios as a result of the drop we saw earlier in the week. We're really in a week this week that could go in either direction, and again those four variables, the four E's, could affect that.
Alan Ackerman
With the confidence levels as weak as they are, it would be a mistake for the Fed not to cut rates as soon as possible.
Alan Ackerman
My sense is that an earnings recovery is further away than expected and there is no immediate catalyst to turn this market sharply higher. We could have a trading rally, but on balance, people are still nervous about the earnings outlook.
Alan Ackerman
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Circles create soothing space, where even reticent people can realize that their voice is welcome.
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What I thought we ought to try to do in a book like this is to focus closely on Lincoln, himself, to see what he knew, how he knew it, how he came to make the decisions that he did, and how he implemented them.
David Herbert Donald