Private sector credit from 1999 through the first half of 2001 was adding 1.2 trillion per year. It was the mother of all credit expansions.
More Quotes from Maureen Allyn:
The Fed's not worried about inflation, nor should they be.Maureen Allyn
There's a difference between being stable and starting to grow again. I think that's what we're hearing from companies, too - the worst may be over, but we really don't see the upside coming, and that's what these jobless claims suggest.
Maureen Allyn
So far, layoffs have been bad, but the job market has held up pretty darn well. If companies really get the axe out more than they have, that sets a bad dynamic in motion. That's what's got to give Federal Reserve Chairman Alan Greenspan nightmares.
Maureen Allyn
I am really concerned that one of these months we are going to get a bad inflation number. I think the markets have to be very nervous in front of these inflation numbers.
Maureen Allyn
I'm surprised we're seeing this little amount of weekly claims because we keep hearing the announcements. There have to be more layoffs in the pipeline.
Maureen Allyn
I think that's got to be a better-than-even chance at this point. We know from their discussions that they were very, very nervous. This isn't going to calm them down any.
Maureen Allyn
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