They (the Fed governors) are going to follow the jobs report. They're not going to be proactive. They're going to be reactive to the data, |
They (the Fed governors) are going to follow the jobs report. They're not going to be proactive. They're going to be reactive to the data. |
They are all pretty well-known. They have all played in Washington circles. |
They see these older cities that others may have passed over or thought for dead as environments where they can really create their own living space. |
They view the gasoline thing as temporary, and that's important because it didn't change their overall pace of spending. And that's a different kind of psychology. If it was a permanent increase in gasoline prices, then you would have expected consumers to make a more permanent adjustment downward in their spending and saving rate. |
This good news supports the view of continued economic and employment gains with limited upside risk of rising interest rates. |
This is a surprisingly strong start of the year. |
This is more significant, ... it's a very big complication. |
This is really the first post-NAFTA, post-WTO economic recovery we've ever had in this country. Because of the globalization of the labor market, the relationship between economic growth and employment is different this time than it has been in the past. |
Today's labor market does not fit the mold of the old models. The economy has recovered, and many of the old jobs are gone. |
We are currently estimating first-quarter US real gross domestic product growth at 5.3 per cent and feel the risks are nearly uniformly stacked on the upside. |
We avoided the sticker shock from high heating bills in October because it was so warm. If it stays warm through Thanksgiving, we should have a good holiday shopping season. |
We definitely have to figure that once tax filing season is done and tax refunds are cashed, we do expect consumer spending will slow down in the second half of this year, ... I don't see any way to fudge that (higher financing costs). You're not getting the employment gains or wage and income gains to offset that. |
We went from adding zero to 50,000 jobs per month up to adding 300,000 jobs per month. Now we're going to adding 200,000 per month. Going from 300,000 to 200,000 means we've gone from a recovery to an expansion. |
We're expecting housing to be flat in the second quarter and a drag on economic growth in the third quarter and fourth quarter. |