Thus we are bumping up our growth and Fed call. We now expect the funds rate to peak at 5.5 percent at either the August or September FOMC Federal Open Market Committee meeting.
More Quotes from Ethan Harris:
The main thing holding back the economy in the past year and a half has been a lack of business confidence, and now we're seeing these surveys with a fairly optimistic take on the economy. The non-manufacturing survey certainly reflects the general increase in confidence, and that's a self-fulfilling thing.Ethan Harris
We think inflation is going to remain benign going forward.
Ethan Harris
Rubin was a great Treasury Secretary. Nobody in the Bush administration comes close.
Ethan Harris
We see a number of reasons for the Fed to drop its 'measured pace' language.
Ethan Harris
The third quarter was the sweet spot for profits from an economic perspective. You had this pickup in growth, but you didn't have the pickup in costs. In terms of growth, this is the best quarter we're going to see.
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
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