This is a solid (GDP) release and should support the dollar's gains from earlier this morning, |
This is a solid (GDP) release and should support the dollar's gains from earlier this morning. |
This is more an unwind of positions betting against the yen. It's been very surprising how fast this correction has been. The speed of the move has shocked a lot of people. |
This is not a 'ripping off the Band-Aid' kind of situation, where you know how much the pain will be and that you'll be fine afterwards. We don't know how well the economy has healed. The Fed remains very concerned ... that they might overshoot and give the economy such a shock they'll have to cut rates again. |
This is the Fed's preferred measure of inflation...and might have markets pricing in a more aggressive Fed, |
This is the Fed's preferred measure of inflation...and might have markets pricing in a more aggressive Fed. |
This is undeniably good news. The crucial question going forward is going to be if the rise in confidence is reflected in more spending on the part of the consumer, or if it's simply a patriotic rally. |
This is what the Federal Reserve has been warning about for a long time -- we will still see consumer spending growth, but it will be more moderate than before, ... It's a retrenchment of consumer spending growth from blistering levels. |
This is yet another reminder that policy-makers don't have a lock on knowledge. There's a tremendous amount of confusion now about whether or not the recent weakness due to military anxiety is going to end up being self-reinforcing economic weakness. |
This really puts the spotlight very acutely on the Fed minutes this afternoon. |
This really reduces the chance of a cyclical bounce in spending, which is what we typically expect to see in a recovery. |
This shows our big reliance on imports and foreign capital. As the dollar weakens, that becomes a more and more expensive habit. It makes our imports more expensive, makes the trade deficit wider, makes us even more dependent on foreign capital, weakening the dollar, on and on -- it's a vicious cycle. |
This was a pretty positive number, with solid increases in output of business equipment and consumer goods. |
This was an honest-to-goodness better-than-expected report. There were no special factors in it that made it look artificially strong. The report also indicates that consumer fatigue may not be as severe as we had previously thought. |
This whole question of the impact on interest rates is really complicated, but a lot of smart people at the Fed and elsewhere have said it's not really a big issue -- it's only suppressing long-term interest rates at the margin. |