David Gilmore Fed Quotations

More tightening is still needed. The Fed has to consider the election calendar. They can't delay until late summer or fall, when it might be politically more difficult.

Unless we get some more serious signs of demand slowing, the Fed is expected to raise rates again at its next meeting,

What makes some red in the face is that (Greenspan) can speak about Fed policy and the economy just days after leaving the Fed, when his insights are most relevant. Look at Eurodollar futures today if you have any doubt.

We believe the ECB will follow the Fed rate cut relatively quickly with one of its own,

While we have said all along that the foundation for the U.S. expansion is dodgy, as long as it is what it is, we expect to see the dollar and Treasury yields - and fed funds - move up.

We have to start thinking about the Fed moving from a neutral to a more restrictive policy. I wouldn't rule out a 6 percent Fed funds rate if the economy stays hot.

We think that as long as labor market conditions remain tight and oil prices high, the Fed will retain an inflation bias which could last until early spring.

The message from Fed officials is clear: You don't take a record expansion and shut it off with two months of data. There is no risk of a hard landing.

The dollar is getting batted back and forth from U.S. data indicating that Fed will raise rates to data that indicates the opposite. I don't think there's enough data on the table for anyone to predict what the Fed will do.