The combination of still-strong growth and rising inflation has prompted a string of hawkish Fed speakers all arguing strenuously for the need to keep inflation contained,
More Quotes from Ethan Harris:
The consumer is already somewhat vulnerable in the year ahead as the tax-cut effects fade. If we continue to see pressure from energy prices, consumer spending is almost sure to slow down some.Ethan Harris
They keep fiddling with the language, and the general tone of the directive keeps getting a little less dovish.
Ethan Harris
We are going to get some follow-through, some hiring, but it will be slow. I don't see wage growth coming back in the next year.
Ethan Harris
They'll wait to see how Christmas shapes up, and if it's weak, they'll give another rate cut in January.
Ethan Harris
There's definitely going to be nervousness around the event and a kind of inertia. My wife has already asked me not to come into work that day.
Ethan Harris
The Fed has made it clear that it will take quite ugly news to get them to move in advance of any clarity around the Iraq situation. That means the March 18 meeting seems too early to expect a cut.
Ethan Harris
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