Greg Valliere Might Quotations

I think what we all are hoping for is resolution sooner rather than later. I'm not sure that Gore's speech at noon today would reinforce the belief that this would get wrapped up quickly. (Some) segments of the market will do well whether it's Microsoft or drug stocks, but I think it might be a little bit premature.

We'll probably get more rate cuts tomorrow, but I think you will probably see something on the fiscal side too. You may even get a little more on the tax side. Even Democrats agree that we might need a payroll tax cut,

The wording of the statement will be very significant ? does it make it clear that the Fed is prepared to do more. It will be an important clue about what we might get going forward.

The feeling is that Bush might call for a study, a commission, a blue ribbon panel on tax change, but that, if you start talking about radical tax reform, it becomes a big, fat target for criticism.

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.