I think that (high inflation readings) would be almost the last straw to convince the Fed.
More Quotes from Ethan Harris:
When you get a new chairman in place you're going to have a more democratic and less predictable, less transparent Fed. The new chairman won't get the same automatic respect Greenspan has. It's not that (central bankers) will turn into a bunch of farm-yard animals, but there will be a more normal discussion going on.Ethan Harris
The idea that the recovery has started has been clearly confirmed. But there's no way to know the sustainability of the recovery.
Ethan Harris
Obviously we have a pretty weak economy and this was not unexpected. We knew they were going to have to revise it downward.
Ethan Harris
You don't want to force the new chairman to open his term by having to make a a 50 basis point rate hike.
Ethan Harris
We see a number of reasons for the Fed to drop its 'measured pace' language.
Ethan Harris
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