Ethan Harris Quotes
You're not talking about a full-blown business-cycle recovery here, which is something like 6 percent GDP growth for a year... To get that, you'll need the whole economy operating in full-growth mode, and clearly the consumer isn't. 
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Talking | Full | Blown | Business | Cycle |
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They keep fiddling with the language, and the general tone of the directive keeps getting a little less dovish... Being 'patient' sounds a little less like they're keeping rates on hold than a 'considerable period' -- though you'd need to study a dictionary closely to figure that out.
- Ethan Harris
