David Wyss
David Wyss
David Wyss is an American economist. As New York-based Standard & Poor's chief economist, Wyss was responsible for S & P's economic forecasts and publications. He also coauthored the monthly Equity Insight and the weekly Financial Notes. He was on the board of the National Association for Business Economics, Washington, D.C...
demand higher oil people prices pushed rather supply time
When oil prices are pushed higher by demand rather than supply shortfall, people have time to adjust. We just keep on trucking.
coming gains historical settling standards strong
Usually coming out of a recession, you get a real spurt in productivity, which we got, but now things are settling down to what by historical standards are still very strong gains in productivity.
continue expecting oil prices
We're expecting oil prices to continue to come down. They're now about $60. We expect to be down around $50 by the end of the year.
backed bigger break energy gotten harsh inflation katrina oil prices rise risk
There is a risk that energy could break out into a bigger inflation problem. We have gotten through Katrina and oil prices have backed off a bit, but there is a risk that if we have a harsh winter, energy prices will rise again.
consumer rest spending
Other than autos, the rest of consumer spending is doing OK.
coming financial hikes markets problem rate struggling
I think they are struggling with how to let markets know the rate hikes are coming to an end. The problem is that anything they say will get over-interpreted by financial markets.
carrying continue expect federal funds growth inflation march rate rise send
We continue to expect two more rate hikes, on March 28 and May 10, carrying the federal funds rate to 5 percent. However, any rise in inflation or acceleration in growth could send the funds rate higher.
financing growing large seem trade trouble
We don't seem to be having any trouble financing our large and growing trade deficits.
bigger both expected fact lifted looking november pain revise
We had expected to see a bigger rebound. On the other hand, some of the pain is lifted by the fact that they did revise up both November and December, so things are still looking pretty good.
creeping inflation worried
They like inflation where it is now. But they're worried that it's creeping up.
days dealt financial worst
It was one of the worst days in U.S. financial history, and he dealt with the repercussions very well.
extended fed goes hold march policy rates stop switch unless
The Fed doesn't like to switch policy very quickly. Unless something goes wrong, I think they are going to stop (after the March move) and hold rates there for an extended period.
accumulate basket china dollars exchange foreign instead logical market move moved peg relative since yuan
They have to accumulate dollars to keep the yuan down relative to the dollar. But since China has moved to peg the yuan to a market basket of currencies, instead of just the dollar, it's logical for them move their foreign exchange holdings to the same basket.
bit consumer drive oil recession slow spending
Consumer spending may slow down a bit more than thought. But, it won't drive us into a recession - that would probably take oil going well over $100 a barrel.