24 Quotes by Robert DiClemente

He sees an explicit medium-term inflation target as an anchor for financial markets and a mechanism for Fed accountability.

State and local budgets can be corrected by small changes in the relative growth rates of spending and tax revenues, rather than by jarring policy initiatives.

Stable long-term expectations are a potent headwind against a sharp acceleration in underlying price trends,

This to me looks more like what retailers had said, that colder weather in May might have depressed sales in ways that are not really fundamental, ... Early anecdotal evidence for June shows a snap-back. It would be a big mistake to view this as a sign of a new wave of retrenchment.

True, the fuel for faster recovery is amassing. But that prospect does not materially alter chances that inflation will also remain well anchored.

While financial markets are focused on all the gloom ... they risk missing the incipient turnaround in corporate profits. Based on the latest GDP figures, corporate earnings probably bottomed in the third quarter. Firms are making the necessary adjustments to restore profitability by reining in their costs, especially labor compensation.

With surging productivity keeping alive chances of further disinflation, even another Fed rate cut cannot be ruled out,

Under these conditions, policy makers will want to maintain a continued period of very low interest rates and highly accommodative financial conditions to propel aggregate demand well above the upper end of reasonable estimates of potential growth,

Fighting against rising interest rates just seems a waste of time. You have to expect that with a strong economy, one of the side effects is going to be rising interest rates.