Bill Sullivan Rapidly Quotations

If the economy continues to grow rapidly in March and April, (the Fed is) likely to raise that funds target again in May. So the market's been put on notice: Unless you see some overall moderation in economic activity, particularly in consumer spending, we're likely to see further tightening action down the road.

It's clear that, even though the economy is growing fairly rapidly ... it's not generating any price pressures. This may permit interest rates to edge lower.