David Jones Point Quotations

The point about labor market weakening suggests the Fed's ... worried about that. That drives home the point they're going to keep these rates unchanged for a long period of time.

Nothing in these numbers would change the outlook for Fed policy, which is to tighten credit and to try to encourage market conditions that would slow growth to a more sustainable pace this year. The report leaves the Fed on track for a quarter-point hike in February, but there isn't the kind of urgency to warrant a 50 basis point hike.

You can imagine scenarios at this point where the Goldilocks economy turns into a nightmare.

It was a very difficult weather scenario that came in. Several accidents were occurring and at that point we decided to err on the side of safety.

The feeling from Greenspan's point of view is that you don't want a pure academic for this post because that person may not have enough political savvy and enough market sense.