Lyle Gramley Increases Quotations

I would interpret higher stock prices in two ways, ... It's an indication of improving confidence in the economy's recovery, and it increases the confidence and wealth of consumers, adding to consumer spending.

We still face a longer-range deficit problem and that will be exacerbated by increases in Medicare and Social Security payments, ... It would be helpful to bring our budget deficit down longer-term. I worry more about that than this temporary increase in the deficit.

Being Fed chairman only increases his value that much more.