Art Hogan Fed Quotations

We're seeing a nice handful of earnings today. That is going to be the driver. The other driver, or the thing that's not going to hold us back this quarter, and I would argue has held us back the last three quarters, is the consensus is the Fed is done for the year, ... We don't have a credit tightening cycle to go through and we're seeing terrific earnings. So I would argue that the focus returns now to earnings growth, revenue growth, the strength of corporate America and not necessarily the macro-economic themes like monetary policy which have been on the forefront for the last couple of quarters.

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.

No one thinks the Fed is going to raise rates, so to what avail does a benign PPI number do to the market,

If we continue to see the trend slowing and we get better (economic) numbers, I think the Fed can take a pass at the end of the month and wait until August.

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.

He's been very clear. The Fed may take a pause for a month or two, but that doesn't mean it's the end of the rate hikes.

People are bid up the market by the close to get ahead of the Fed on the hope of a 'Fed bounce' tomorrow (Tuesday), ... We're still well within the time frame of the Fed's monetary policy stimulating the economy, but people are just tired of waiting for it.

We are starting to see (economic) stabilization and, I think the fact that the Fed didn't make a move speaks to that.

This was a nice way to start off the new year. A lot of this was driven by the fact that the Fed confirmed that end is in sight. We've held onto the belief that when the Fed ends that stock prices will go up. We'll still have rate hikes but the market is celebrating that we'll see an ending sooner than later.

We've got a lot of economic news between now and the next Fed meeting in May. The path of least resistance is higher, but there's a bumpy road.

During earnings, we're often in a trading range, and I think we still are right now. We've got 100 members of the S&P reporting this week, a lot of economic news and the Fed tomorrow, so for the market to go sideways a bit is not a bad thing.

The revisions are in the right direction, but there's still some softness in the manufacturing sector which keeps the Fed on watch in terms of interest rates, ... It's sort of an 'in line' number, but not really closing the door to keeping the Fed aggressive with monetary policy.

Depending on what day it is we focus on earnings, we focus on the Fed. We have to get the Fed behind us before we really pick a direction. I think that direction will be higher, but not until next Wednesday.

You don't get a ton of people making huge bets ahead of the Fed meeting, ... There's little corporate news and no economic data, so I think you'll get some bargain hunters here.

It's good news because it shows there's no creeping inflation. And the Fed is not worried about inflation. What they care about is the manufacturing side of things, retail sales and consumer spending.

The Fed will take the rising price of oil into consideration when it meets, ... The market is still pricing in a rate hike at the end of June, but the question becomes what happens if oil stays above $42 a barrel.

The Fed said rates are going higher, which was no surprise. But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.

The Fed said rates are going higher, which was no surprise, ... But when you're in an interest rate rising environment, all the smatterings of what would be considered good news look like a confirmation that rates will rise.

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.

The Fed cuts rates because they're worried about the economy, ... They're not as worried because they only cut rates by 25 basis points, so things are getting better and there's stabilization.

I'm thinking the Fed will leave the rates unchanged, ... We've ramped up pretty higher into this meeting and my concern is the psychological letdown if the rhetoric remains strong.

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

I think 50 basis points (one-half percentage point) is a credible consensus estimate for what the Fed does (at its March 20 meeting). Unfortunately, over the last five or six tumultuous trading days, we've talked ourselves into the fact that the Fed cares about equity valuations, but that's not the case.

But if I had to venture a guess I think we'll start trending higher up until the Fed meeting on Tuesday and then really take off. Unfortunately, the volumes remain anemic here so there's not a whole lot of action going on either way.

The increase in wages was the piece that really speaks to the inflationary pressure. The fear is that the Fed doesn't stop in March, that it continues through May. If corporate America's borrowing costs go up, that makes stocks less attractive.

The market was up 5 percent and then the Fed gave us this gift.