Anthony Chan
Anthony Chan
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These results suggest that the current low energy prices should serve as an important and positive boost to overall economic growth.
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The resilient consumer and an attempt by businesses to jump-start and keep the economy going -- the combination of those two forces gave us a bounce-back in economic activity.
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Saying that higher oil prices have not increased the risk of recession or serious economic slowdown is clearly not the same thing as saying that they have not had an impact.
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Even though the gains this month are in fact indicative of a sustainable economic expansion, the magnitude of the gain was a bit exaggerated.
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There's no question the recovery is taking longer than people thought. People thought the economy would pick up very quickly and that we would have a typical garden variety economic recovery. That's not the case, but the good news is it is a recovery. You can't ask for more than that.
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Yes, the economy was slow and would have come within a hair's distance of a recession. But Sept. 11 was the fatal blow to the economy this year. That probably will be the most important market and economic event of the year.
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It doesn't give support to a robust expansion, ... Expansion is coming, just not the garden-variety explosive economic expansion.
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The problem was that we had earnings growing at a high multiple of economic activity, and that wasn't right. There was a considerable amount of pressure for companies to exaggerate economic activity, but the economy was doing just fine.
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With the surprise jump in new home sales and the outsized rise in existing home sales, we now see that widespread talk of the demise of our moderate economic recovery has been somewhat exaggerated.
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We've fallen far short of prior economic expansions, ... We're about 5-1/2 million (jobs) short of where would be today if this were a typical expansion.
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What it tells us is that we may see a bit of an easing off of economic growth or momentum. But even though the trajectory of growth may, in fact, ease a bit in 2006, I think the expansion remains intact.
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When you listen to Greenspan's speech, you hear a fear about the sustainability of economic growth and no inflation pressures. Guess what that spells? Lower interest rates and postponing a return to higher rates, to insure the sustainability of growth.
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When the economy is booming and you want to hire new workers, you have to attract them with money. Today, all you have to offer is a job.
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The recovery of 2002 looks poised to mirror the recovery of a decade ago, with a moderate economic and earnings recovery following a short and shallow recession.