The Fed doesn't like to switch policy very quickly. Unless something goes wrong, I think they are going to stop (after the March move) and hold rates there for an extended period.

When you stop and think about it, if the Fed were to pause, what does it actually do for anybody ... in the afflicted Gulf region? At this point they're more concerned with basic food and shelter and not really comparison-shopping for mortgages.

There could have been something wrong with the door, or it could have been a faulty switch or misinformation by the computer system.

We can't run econometric models. The numbers aren't good enough.

This was certainly a successful launch for the 30-year bond.

There is just no spare refining capacity around to deal with these losses. We don't have any cushion.