The market reacted exactly the way they wanted it to, which was to flatten the yield curve. I think the point is clear Policy makers are going to do whatever they can to help the Fed. The rate cuts that the Fed is putting through are only hitting the short curve they're only psychological.
More Quotes from Lara Rhame:
People choose to consume based on expected earnings. The unemployment data should take some of the froth off of a couple of really strong recent data reports.Lara Rhame
What this means is that business leaders are not convinced that strong sales numbers will be maintained on or at the same level.
Lara Rhame
This is not a 'ripping off the Band-Aid' kind of situation, where you know how much the pain will be and that you'll be fine afterwards. We don't know how well the economy has healed. The Fed remains very concerned ... that they might overshoot and give the economy such a shock they'll have to cut rates again.
Lara Rhame
It wouldn't surprise me if the Fed did stick with the positive and ignore the negative, but I can't imagine them taking out the statement in their August policy announcement that says 'labor market indicators are mixed,' ... If they are positive, they still have to retain at least that one negative.
Lara Rhame
This is what the Federal Reserve has been warning about for a long time -- we will still see consumer spending growth, but it will be more moderate than before, ... It's a retrenchment of consumer spending growth from blistering levels.
Lara Rhame
If you look at the segments of the economy where we do have deflation, particularly in the goods industry -- and particularly in durable goods, such as automobiles and heavy machinery -- that's where most of the layoffs have been concentrated, ... That's where you see the connection of disinflation to overall economic growth.
Lara Rhame
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