I don't think he gave the market as definite a picture as it wanted, and we're seeing the consequences of that now.
More Quotes from Milton Ezrati:
The 30-year bond will primarily add liquidity to the long-end of the market, ... It will mostly benefit the institutional players in the marketplace.Milton Ezrati
The market has been worried about inflation and it has been worried about the Fed and this relieves them on both fronts.
Milton Ezrati
Undoubtedly, the retirement of the baby boom generation will strain the economy and its financial markets. The strain, though clearly present, will fall far short of the urgency and degree voiced by some of today's more pessimistic forecasts.
Milton Ezrati
Initially, there's little doubt that it's a boost for the market,
Milton Ezrati
The economic situation couldn't justify that -- a rate cut, ... The other thing is we're in the middle of an election cycle and the Fed is loathe to change policy in the middle of an election cycle. They like to be, politically, like Caesar's wife -- above suspicion.
Milton Ezrati
I think the next time they meet, we'll get the same thing again. They'll hold steady.
Milton Ezrati
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