Alan Skrainka Fed Quotations

I think this is one time the Fed is behind the curve.

We feel we can do a service to our customers if we just get the overall trend right. We don't really practice technical analysis or try to guess the price points next week. But the trend does look like it's higher, because the Fed now is probably shifting into neutral earnings are very strong. And because the Fed acted promptly they ensured we would have another year of solid growth next year. That is what the market is anticipating.

We think, in the short run, psychology drives the market but in the long run, fundamentals drive the market. We see very low inflation and no inflationary pressures. We think, going forward, expectations have come back down in line with fundamentals and we won't have the pressure of Fed rate hikes over the next 12 months.

People are waiting for the Fed. I think the Fed will leave rates alone, probably say that the risks are tilted toward inflation and people are also saying they'll come back in August and hike again.

The bond market was so weak all day that it pushed the broader market lower. Investors weren't talking about if the Fed will raise rates, but how much.

The Fed often overshoots and I think you have to prepare for that outcome.

The economy is way too hot and is generating inflation pressure. And the Fed is going to have to address it with higher interest rates.