“On Sept. 10, there was a strong chance we'd dodge a recession as historically defined. One reason we had dodged a recession was remarkably timely Fed policy. Fed policy has as much chance to work as it ever has.”
“Clearly, the administration's favored approach has one and only one attraction. In one year, the tax rate makes it all the way to zero, and hence political operatives can craft speeches about the end of the double tax of dividends.”
“It will be very important for him to do (that) big public visible speech right after he gets there to let everybody know there's a new sheriff in town, he's got a nice pistol with a lot of ammunition in it, and don't mess with him.”
