“Certainly the Fed has voiced more concern over inflation for public consumption that it has in previous years, so it's not surprising that markets would respond accordingly. It just really doesn't jive very well with the facts on the ground.”
“The yields indicate that markets aren't concerned about inflation or that they're confident that the Fed is on the job and will contain it. But there's some sort of subconscious, collective belief that sustained manageable inflation is too good to be true and eventually the other shoe will drop.”
“It'd be fascinating to hear what he thinks, if he'd actually tell you. The guys who are most frequently mentioned for the job are all ivory tower types. I don't think anyone has the breadth and experience dealing with the business community as Greenspan did when he came on the job. Certainly they don't have as much experience as he accumulated in the past 17 years.”
“The Federal Open Market Committee does not appear from any of its official statements or from the speeches and testimony of its members, to be concerned about excessively strong labor markets or the prospect of wage inflation,”
“They are not using that possibility as a justification for their tightening campaign, in contrast to past years when there was a lot of concern about tightening labor market.”
