I think the Fed knows that a pause at the upcoming meeting would upset the market by sending the message that the Katrina impact is really bad.

I think they'll (the Fed) move at the meeting but I think the market is grasping at any straws you can twist into an optimistic story.

I think the market tends to rally in front of a Fed meeting, ... I think what is going to happen is no action (to raise rates), hawkish comments and the rally fades, because what you then have to turn your attention to is what will earnings be. If growth goes from 5.5 percent to 3.5 percent, earnings are going to slow.

I'm sending a message, and I'm going to do what we used to do years ago - send in the goons.

I think the market needed to pause.

The market looks better than it did a month ago, yet the near-term outlook for most companies is probably worse,