Quotes by Lyle Gramley

“Hes not going to be the worlds oracle.”

“I cant interpret this report as a weak economy, and I dont think the Fed will either. They are going to persist in moving interest rates up until they see greater indications than what we have now that either the economy is weakening, or inflation is getting under control, or both.”

“I dont think theres any doubt theyll go to 5 percent in May. I expect them to sit still after that.”

“The housing market is fading.”

“His answer was an honest one -- I think the markets misinterpreted what I said.”

“What the Fed is trying to do, by being more transparent and more communicative, is highly desirable. But there are going to slips along the way. Ben will learn and the markets will learn.”

“whoever they pick has a considerable degree of background and expertise on monetary policy.”

“We still face a longer-range deficit problem and that will be exacerbated by increases in Medicare and Social Security payments, ... It would be helpful to bring our budget deficit down longer-term. I worry more about that than this temporary increase in the deficit.”

“He wondered what I was doing and what he might do. I replied that when he leaves government service hes worth an enormous amount of money.”

“Being Fed chairman only increases his value that much more.”