[But what's been holding the markets back from jumping in more fully is] the turnaround in corporate profits and cash flows, ... Secondly, it's just confidence that we're coming out of this recession and that product demand will be increasing. |
[Mickey Levy, chief economist for Bank of America said the money that will pour in may more than make up for the hits New York will take in finance, tourism and retail.] The rebuilding will take place and be financed by federal and local authorities, ... New York will still be the most important city in the world. |
After a couple of false starts, the past couple of months does have the feel of a more traditional recovery, driven by consumer spending and housing. The follow-through is the business response. |
Although a heightened degree of overseas job outsourcing is probably taking place, the phenomenon is likely exaggerated by newspaper headlines, |
Although a heightened degree of overseas job outsourcing is probably taking place, the phenomenon is likely exaggerated by newspaper headlines; in any event, the net impact on aggregate employment is positive in the long run, ... unwarranted. |
Businesses quite simply haven't been able to pass on the higher unit labor costs to consumers, and have the prices stick without losing market share. |
Clearly, wage increases are tilting upward. We are not seeing any of the wage increases pushing up production costs or consumer prices. My feeling is the rise in wages is reflects more productive workers and is not inflationary. |
Consumer spending is growing only modestly. So, it appears the easing of interest rates has helped the consumer only somewhat ... not a lot. |
Everything is in place for a healthy rebound. |
For those who are turned on by good economics and rigorous debate about economic policymaking, this is it . |
He spoke in detail about some fairly complex issues. The broader plan is to conduct monetary policy based on rigorous economic analysis and hard thinking about the economic concepts that go into the conduct of monetary policy. |
He was paving the way for another rate hike. He knew full well that with this type of language the market would price in a hike to a 5 percent funds rate. |
I expect employment to increase, but I also expect the unemployment rate to remain pretty high. We'll get [the rate lower], but it will take time. |
I think the Fed's going to be on hold at the next meeting, |
I think the Fed's going to be on hold at the next meeting. |