Greg Valliere Congress Quotations

If I was a member of Congress I'd try to press him on is there a light at the end of the tunnel on measured rate hikes, and at what point the Fed decides enough is enough. You have to think after the August move we probably are in the eighth inning, but I doubt he'll be that explicit.

One of the big stories coming out of this is the inability to get anything done in the next two years. Therefore ... the budget surplus is going to pile up dramatically because Congress won't agree on big tax cuts or big spending hikes.

I think sometimes after we have this type of party, there is a hangover -- and this comes in '05, ... The new Congress in '05 will make efforts to restrain growth. They may not rescind the tax cuts, but there will be spending restraint. But between now and then, it's just a party.

A lot of actions, like going after the drug companies, will never make it through the House, ... Congress is hawkish, period, and will stay hawkish.

By the middle of the fall, if there's a feeling that the economy has withstood this blow, then Congress might be able to return to a more traditional agenda.