Art Hogan Economy Quotations

We have to get used to the fact that the emergency level of the fed funds rate is behind us, ... The sooner we become cognizant of the fact that the global economy won't be crushed and corporate earnings won't roll over, the sooner the market will fight its way to trend higher.

The price of oil is acting as a natural drag on the U.S. economy and the global economy. It creates a great deal of investor uncertainty, ... as earnings reports start coming in, it's going to be what companies tell us about the next three quarters that determines if investors get off the sidelines.

Obviously, we are still concerned about how much the economy is slowing going forward. There are a lot of people who aren't making bets on this marketplace.

Historically, six to nine months after rate cuts, the economy stabilizes and starts to swing in the other direction, ... But a lot of things are different this time. The Fed came off an aggressive tightening mode, and there's a global economic slowdown. It's just going to take a while longer this time.

Some major companies that drive this economy have been talking about a better fourth quarter and better first half of next year, ... It's not just predicated on easier interest rates.

It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

We need some capitulation in the economy and if we get any sort of turnaround in the economy we can turn this market around on the Nasdaq. We're clearly in a market searching for a bottom.

We celebrated the fact that (the Fed) was much less stern on their rhetoric yesterday (Wednesday), but today the party is over and a slower economy may have an adverse effect on earnings,

We're keeping our fingers crossed that we'll continue to see signs of (economic) stabilization, ... The economy is key and will be the catalyst to get people off the sidelines.

The problem is that terrific news on inflation is not what we need right now, ... We need terrific news on the demand side of the economy. The economy hasn't stabilized yet so we don't have any great need to buy stocks.

When the Federal Reserve is in a (interest rate) tightening mode it's difficult to get excited about old economy stocks,

An overly robust economy came to a screeching halt, so there's much more of a backlog of production capacity and inventory,

It sends a signal that the U.S. economy has weathered some pretty harsh storms over the past few years and in recent months.

It's a good day for the market, ... It's a great boon for the economy when you've got more than $70 billion in M&A activity (mergers and acquisitions), and these companies are making these moves because they think the economy is getting better.

It's good to remember that it's the consumer that's going to turn this economy around -- and if the consumer is out there spending, that's a good sign,

The Fed knows more than we do about the economy -- they can look around the corner and see the economy turning around,

The Fed disappointed us short term, ... The economy looks better than it did in December and the Fed knows more than we do.

If we can continue to see (the economy slowing down) perhaps we're done after Tuesday's Fed meeting.

In terms of the thought process on the economy, today's ISM data on the services sector didn't help. It didn't really come as a surprise -- but, having said that, the broader thought process that the economy isn't doing well in the second half compared with the first half has investors concerned that we may need to test the lows of the market again.

You can't have it both ways -- the economy can't be strong and have us worrying about revenue growth going forward, so it has to be the trend is slowing and how much that affects equity valuations going forward.

The concern is about how much the economy picks up and how quickly that translates into earnings growth for corporate America.