45 Quotes by Lyle Gramley

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 an economy that's been struggling to keep its head above water for some time, so this kind of a rise in long-term interest rates is not welcome at this point,

It's entirely possible you could repeal tax cuts without injuring the economy if you did it carefully, over a period of time, while offsetting it in part by increasing expenditures you knew were coming anyway or thought desirable. But you couldn't simply remove the tax cuts altogether right away and avoid significant negative effects to the economy.

Then the Fed would be in a very tough spot,

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

Not only is he as mentally acute as the average 77-year-old, he's as acute as the average 27-year-old. He has a phenomenal mind and very good judgment, ... People close to the decision-making at the Fed are almost unanimously in great praise of him, as I would be. I think it's a wonderful thing for the Fed and for the country that he's being kept on.

The Fed is looking at an economy right now that is growing strongly with upside risks to inflation.

The Fed will be content to sit on the sidelines to await more definitive evidence as to whether inflation is going to be a problem or not, ... Setting the election aside entirely, the Fed, looking at the incoming data, would say to itself 'right now we don't want to raise interest rates and we don't need to raise interest rates.'

If you raise interest rates in the face of what you know will be some pretty awful economic numbers, you must have a lot of confidence about the economy's ultimate recovery and a lot of concern about inflation.