Ethan Harris Quotes
If you're doing budget planning in business, you budget for the downside risks, not for the most optimistic scenario. But the federal government doesn't have to worry too much -- it's the only business that has a blank check. 
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Budget | Planning | Business | Downside | Risks |
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It's very likely consumer spending will slow down significantly in coming months.
- Ethan Harris
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
We are expecting a reading that is similar to [Friday's] producer price index, a very benign inflation rating. Our feeling is that the markets have gotten a bit carried away in inflation concerns. They've heard Greenspan say that inflation [is showing up on the radar screen] and they're waiting for it to show up any day now. But the inflationary picture remains just as good as ever.
- Ethan Harris