26 Quotes by Steve Stanley

It is reassuring that the February drop in confidence appears to have been a one-off event rather than the beginning of a trend.

It made my decision a lot easier to come back knowing that guys I knew and really enjoyed being with were going to be here. That's always an exciting thing as a player, really enjoying guys you've played with in the past.

At the same time, notwithstanding the lack of job creation, the economy is generally strong.

The Fed may need to prove its inflation-fighting credentials because expectations could be shifting a bit. The case for continued rate hikes has become, if anything, more compelling since Katrina,

The core consumer price index (CPI) has risen by 3.3 percent annualized over the past three months, ... We'd all better hope that some of this is 'transitory.'

All in all, this is significantly more hawkish than I suspect market participants were anticipating. Bond market players have been throwing around theories about a second half slowdown, with the June data creating a huge stir, but the Fed has almost not given that idea a second thought.

The gain was smaller than we had expected, and much of it came in utility usage, reflecting the extremely cold weather in the period.

The Chairman (over the two days) was surprisingly hawkish, and we should be ready for rate hikes as soon as the data justify them.