This gives the Fed license to continue executing monetary policy. If they see any signs of slow growth in employment, industrial production, or retail sales, they certainly have the green light to make another cut. They have total flexibility to do whatever it takes to prevent a recession.
More Quotes from Anthony Chan:
Greenspan's testimony certainly raises the probability that the structure of any eventual stimulus plan passed by Congress will move closer to that favored by Democrats, a plan that has clearly been associated with lower revenue losses,Anthony Chan
Everybody knows energy prices are out of control. But to see the core number coming in line with expectations and the year-over-year figure actually declining tells me the Fed is back on plan to move at a gradual pace (of rate increases.)
Anthony Chan
Benefit costs went up because of medical care costs, ... not firms trying to wow employees. They're not wowing employees. Look at the layoff data.
Anthony Chan
Investors will be intently listening to see if he says anything that clears up what the future monetary path is likely to be,
Anthony Chan
Even when people thought the economy would collapse because of the hurricane, it didn't.
Anthony Chan
If housing is starting to weaken and manufacturing is not turning around, obviously it spells trouble for the economy.
Anthony Chan
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