The bottom line: This greatly improves the chance of positive fourth-quarter GDP (gross domestic product). The Fed is nearly done. The U.S. economy is coming back.
The chairman will likely tell the House Budget Committee that conditions are set for recovery.
The chairman's remarks clearly signal rates will rise this month, though we remain of the view that a November hike is not yet a done deal,
The chairman's remarks clearly signal rates will rise this month, though we remain of the view that a November hike is not yet a done deal.
The Chicago PMI has been very volatile over the past couple of years, probably as a result of the tribulations of the auto industry. As a result it has become a less reliable indicator of movements in the national ISM and the January dip does not necessarily mean the ISM will follow suit.
The Chicago survey is very susceptible to changes in conditions in the auto industry, where activity has been very volatile in recent months.
The data confirm that the labor market is still not generating the sort of cost pressures many analysts expected with 4 percent unemployment.
The data suggest real consumers' spending rose marginally last month -- but we still expect only a 1.5 percent annualized increase in the fourth quarter,
The details are close to our expectations, though consumers' spending, up 5.5%, was a bit stronger than we expected. Overall, solid domestic final demand, but the second quarter will be much weaker.
The details are not as important as the overall message, which is that to the extent that the U.S. economy faces an inflation threat, it is not coming from core goods prices.
The drop in stock prices is no excuse to beginning cutting rates, as some in the market desperately want to believe, ... Given where oil prices are and given what the fundamentals still suggest, I don't see the Fed doing anything for the time being.
The drop in the headline sentiment index likely reflects war fears and may well be mirrored in Thursday's Philly Fed,
The drop in the headline sentiment index likely reflects war fears and may well be mirrored in Thursday's Philly Fed.
The Fed can and will be much more of an active player in the stock market until it turns the corner,
The Fed chairman is not habitually in the business of delivering shocks to the markets unless the circumstances are especially dire. That is certainly a fair description of the situation in the states hit by Katrina, but it does not apply to the rest of the economy.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.
This website focuses on proverbs in the Swedish, Danish and Norwegian languages, and some parts including the links below have not been translated to English. They are mainly FAQs, various information and webpages for improving the collection.