Bruce Steinberg
Bruce Steinberg
alive companies economy grow healthy internet left standing talking time
The new economy is very, very much alive and well. This is that healthy shakeout of Internet companies that many of us have been talking about for months. Now it's time to sift through the rubble and see what's left standing -- and what will grow in its place.
almost amount boost capital certainly consumer economy economy-and-economics growth half hopefully huge next policy rebound recovery second spending spring stimulus strongly
The U.S. economy is now almost certainly in recession, but a huge amount of policy stimulus should strongly boost growth by next spring or summer. A consumer rebound in the spring and a capital spending recovery by the second half of 2002 will hopefully follow.
fourth growth people picking quarter recovery signs since strongly suggest
And the signs since the fourth quarter suggest growth picking up in the first quarter more strongly than most people had anticipated. So I would say the recovery is here.
fed growth half late move occur robust second summer unlikely until
Robust growth probably won't get going until the second half of the year. The first tightening move by the Fed is unlikely to occur until late summer at the very soonest.
anyone economy economy-and-economics four growth mean months percent recession three
The economy is doing better than anyone three or four months ago thought it could do. While 1.4 percent growth is pretty feeble, it does mean the recession was, from a GDP perspective, the mildest one we ever had.
definitely economy economy-and-economics growth landing nearly percent prior rate soft viewed year
The economy is definitely making a transition. I think 1998 will be viewed as the year of soft landing when the economy went from a nearly 4 percent growth rate in the prior year, to just over 2 percent this year.
further labor market
A further deterioration in the labor market is inevitable.
consumers determine economy economy-and-economics further months outlook recovery shows signs though true
The U.S. economy shows further signs of stabilizing, though a true recovery is still some months away. Consumers will determine the near-term outlook and signs are positive.
believe declining economy economy-and-economics good happening hard performing rising sign strong time
The U.S. economy is performing so admirably right now, it is hard to believe how good it is. We have strong growth, declining inflation, strong profits, rising real wages. All of these things are happening at the same time and there is no sign that any of this is about to end.
bottom continue convincing economic economy economy-and-economics fourth mean monetary policy rebound signs strong
The U.S. economy has yet to show convincing signs of a bottom but that doesn't mean monetary policy isn't working. We continue to look for a strong economic rebound by the fourth quarter.
acquainted continuity good
They are very well acquainted with each another and I think they will have a good working relationship. So there will be continuity of policy. But still, I think Rubin's departure, at the end of the day, is still a loss.
pay
Between you and me, you want to be the only one getting the pay raise, and not everyone else.
easily gains gradually job market percent support
As the job market gradually improves, it should easily support consumer-spending gains of at least 3.5 percent this year.
although bond consensus fearing followed market news pieces rally release relief report stronger
Actually there are two pieces of news. One is that although the market consensus was only 250,000, the bond market was fearing a much, much stronger report --hence the relief rally that followed the release of the numbers.