Lyle Gramley Quotations

This is a situation where the uncertainties have suddenly become huge. If all the concerns translate into much lower personal spending, then the economy could falter.

This is a very different recovery than any I've seen -- there's none of the dynamism or momentum we normally see,

The markets are helping the Fed accomplish what it's seeking, to slow down the economy a bit, take some of the froth off,

I don't know what the bond market has been worried about. There's much talk about the possibility of inflation beginning to pick up. I don't see any signs of that at all apart from the rise in energy prices, which we all knew was going to take place.

He wondered what I was doing and what he might do. I replied that when he leaves government service he's worth an enormous amount of money.

The apparent bubbling up of inflation we saw earlier in the year has quieted down again. Basically it's a picture of inflation staying reasonably tranquil. The Fed should like that.

It doesn't seem to me at all appropriate for a secretary of the Treasury to make such comments in any event,

I think he's well aware of the fact they need to improve (communication). It's very a difficult thing to do. I think they're improving.

Anyone who sits at that table knows that if the Fed puts his head up in the midst of an election campaign when it's not necessary to do so, that would be a rather foolish thing to do. You don't want people shooting at you unnecessarily - you'd rather live to fight another day.

I do think a pause is coming along at some point. My guess has been all along that a pause was more likely in the first meeting of next year than in December. The October employment report strengthens that view.