Dana Johnson
Dana Johnson
Dana Johnsonis an American writer and Associate Professor at the University of Southern California. Honors include the Flannery O'Connor Award for Short Fiction, and being named a nominee for the Hurston/Wright Legacy Award. Her writing has appeared in Callaloo, The Iowa Review, and elsewhere...
calling clearly fed fourth further hike instead pushes quarter rate timing
It was a very disappointing report. It clearly pushes the timing of a Fed tightening further into the future. We're now calling for a Fed rate hike in the fourth quarter of 2004 instead of in August.
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What we're spending our time debating is whether the Fed goes a quarter point or a half point.
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There's excruciatingly slow improvement in the labor market and no reason for the Fed to withdraw any of its accommodation, given the lack of job growth.
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Deflation is not a risk the Fed should take, ... If you ask me, should they ease, yes they should.
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I think the concern that was motivating the Fed (to lower interest rates ) is that it's going to shift to more Western hemisphere trade partners. I think the risk is it's going to broaden and deepen.
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People are awfully comfortable with the outlook for stable Fed (policy), so bonds trade with the stock market.
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Knowing what I know right now, I think the Fed will probably tighten again,
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I think it's important to recognize that inflation is where the Fed wants (it) to be. They don't want to overshoot. I think they will pause real soon.
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The Fed is more willing to balance risks in favor of growth than it was two years ago. They really don't want to be accused of anti-growth. They want to be seen as anti-inflation, and I don't think in that light they wanted to be seen as moving ahead of inflation reports that have not shown any acceleration.
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The Federal Reserve will be meeting on Sept. 30. It will be an easy decision to leave policy unchanged. There is no sign of accelerating inflation, and there are arguments and evidence that growth is in the process of slowing somewhat.
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There's no question the Michigan economy and Detroit metro economy have been lagging because of continued exposure to the auto sector.
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I was really encouraged to see the rebound in activity in June and July. The local economy looks much healthier this summer than it did this past spring. However, a clear up-trend is not yet in place and probably will be slow to develop given the punishing level of energy prices and the prospect of more consolidation in the auto industry.
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I think Michigan would like nothing more than to see GM emerge as a leaner and more profitable company,
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It is exciting just to be able to say you actually saw an Olympic medal up close, even touch it.