Lyle Gramley Economy Quotations

I can't interpret this report as a weak economy, and I don't think the Fed will either. They are going to persist in moving interest rates up until they see greater indications than what we have now that either the economy is weakening, or inflation is getting under control, or both.

Greenspan is not a guy likely to brag much, but he'll indicate the economy is still in good condition, that much of the recent bubbling up in inflation is likely to prove transitory, and that fundamentals of the economy are still quite strong despite some of the recent data.

This is a situation where the uncertainties have suddenly become huge. If all the concerns translate into much lower personal spending, then the economy could falter.

This is an economy that's been struggling to keep its head above water for some time, so this kind of a rise in long-term interest rates is not welcome at this point,

It's entirely possible you could repeal tax cuts without injuring the economy if you did it carefully, over a period of time, while offsetting it in part by increasing expenditures you knew were coming anyway or thought desirable. But you couldn't simply remove the tax cuts altogether right away and avoid significant negative effects to the economy.

The Fed is looking at an economy right now that is growing strongly with upside risks to inflation.

I don't think the evidence that small businesses are affected adversely is terribly compelling, ... I think tax cuts had a useful role in getting the economy going again, but we probably could have accomplished much of that with a narrower, more focused tax cut.

The markets are helping the Fed accomplish what it's seeking, to slow down the economy a bit, take some of the froth off,