I think what we had today was a disconnect between the stock market and the economy. The U.S. economy looks great...corporate profits [are] good...inflation and interest rates will be friendly for longer,

I think what we had today was a disconnect between the stock market and the economy. The U.S. economy looks great...corporate profits [are] good...inflation and interest rates will be friendly for longer.

I think it was more of an excuse, ... Weakness in Asia just hurts a strong economy a little bit around the edges.

Investors are recognizing the fundamentals are still terrific, ... Profits are sound, the economy is growing. Inflation is not yet rearing its ugly head.

I think it was more of an excuse. Weakness in Asia just hurts a strong economy a little bit around the edges.

While the equity market and accounting issues and corporate scandals are weighing on the economy, it is still fundamentally sound. The recovery process hasn't been derailed. We still think the economy is going to grow at about a 3.5-percent pace in the second half -- fast enough to keep the Fed from easing, but not fast enough to cause them to tighten this year.