The economy was moving like a rocket in the first quarter. GDP probably rose at a 4.5 percent rate. It's a little faster than I thought earlier, primarily because even though demand was enormously strong in the first quarter, there was actually a pretty considerable case of inventory building. Bruce Steinberg
Motivational, Inspirational, Funny Quotes
![Oddly, the statement accompanying the [cut] was uniformly negative in its assessment of the economy, which would have been consistent with a bigger move. We assume [Fed policy makers were] divided and that the smaller move allowed a consensus to be formed. - Bruce Steinberg Quotes](/pic/img/img.php?text=T2RkbHksIHRoZSBzdGF0ZW1lbnQgYWNjb21wYW55aW5nIHRoZSBbY3V0XSB3YXMgdW5pZm9ybWx5IG5lZ2F0aXZlIGluIGl0cyBhc3Nlc3NtZW50IG9mIHRoZSBlY29ub215LCB3aGljaCB3b3VsZCBoYXZlIGJlZW4gY29uc2lzdGVudCB3aXRoIGEgYmlnZ2VyIG1vdmUuIFdlIGFzc3VtZSBbRmVkIHBvbGljeSBtYWtlcnMgd2VyZV0gZGl2aWRlZCBhbmQgdGhhdCB0aGUgc21hbGxlciBtb3ZlIGFsbG93ZWQgYSBjb25zZW5zdXMgdG8gYmUgZm9ybWVkLiA=&author=ICBCcnVjZSBTdGVpbmJlcmcgICAg&num=10 "Oddly, the statement accompanying the [cut] was uniformly negative in its assessment of the economy, which would have been consistent with a bigger move. We assume [Fed policy makers were] divided and that the smaller move allowed a consensus to be formed. - Bruce Steinberg Quotes")
![Consumer spending, which [has] kept the economy afloat, should decline in the third quarter and lead us into a formal, albeit shallow, recession. - Bruce Steinberg Quotes](/pic/img/img.php?text=Q29uc3VtZXIgc3BlbmRpbmcsIHdoaWNoIFtoYXNdIGtlcHQgdGhlIGVjb25vbXkgYWZsb2F0LCBzaG91bGQgZGVjbGluZSBpbiB0aGUgdGhpcmQgcXVhcnRlciBhbmQgbGVhZCB1cyBpbnRvIGEgZm9ybWFsLCBhbGJlaXQgc2hhbGxvdywgcmVjZXNzaW9uLiA=&author=ICBCcnVjZSBTdGVpbmJlcmcgICAg&num=8 "Consumer spending, which [has] kept the economy afloat, should decline in the third quarter and lead us into a formal, albeit shallow, recession. - Bruce Steinberg Quotes")
