Steve Stanley Quotations

No one should have any false hope that the trade gap is going to narrow much or for very long, but at least the speed of the underlying deterioration is less than we thought.

This kind of situation calls on each one of us to reach out in any way we can. All of us at Bladen Builders, like people all over the world, wanted to contribute in some manner. When our distributor, Do it Best Corporation, notified us of the collaborative effort, our feelings quickly turned into a desire to act.

We continue to believe that the Fed will keep tightening into 2006 and take the funds rate above 5 pct next year.

That's not exactly an evaluation which would suggest that Friday's number will be a blowout to the upside.

He tried as best as possible to stick to the Fed script and to avoid making waves.

To the extent that the Fed has emphasized how important benign inflation expectations are in maintaining price stability, ... the June results are disturbing.

This raises the odds that manufacturing payrolls may finally break through on Friday and register a gain.

The Chairman (over the two days) was surprisingly hawkish, and we should be ready for rate hikes as soon as the data justify them.

While many will be disappointed that we will not necessarily see huge upward revisions to payrolls ... a significant upward revision to wages would also be a positive development, as it suggests that consumers have more firepower than we thought.

Once we get a few strong payroll gains, the tightening cycle will commence. That could be three months away or another year away. No one, including Greenspan, knows the timeframe; but make no mistake, tightening is coming sooner or later.