There's going to be massive reconstruction in the Gulf region in a couple of months,

I am going to postpone that (F-16s purchase)...but while we want to carry out massive relief and reconstruction effort, the other important issue is the security concern of Pakistan,

Even another tropical storm could set the reconstruction back for months.

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.

Outside of Detroit -- and outside of the gulf region -- there are signs that the economy is still doing very well.

The recovery of the Gulf Coast region will take years to complete.