Russell Sheldon Economy Quotations

With the U.S. economy hot and global growth accelerating, the issue of Fed tightening has become the conceptual equivalent of pondering a possible California earthquake. It's going to happen, but probably not tomorrow, and participants would rather not think about it.

The Fed is selling us a bill of goods. The Fed has plenty of evidence that the economy is boiling. They don't care. 'Let it boil,' they say.

Households have taken a clue from the drop-off in the stock market. The economy is weakening but not many of them have seen it in their own lives. Conditions are still fairly good, but there's a heightened awareness that the economy is at risk, and that can make people cautious.