Diane Swonk
Diane Swonk
absorb blows economy fed labor market strong
Like what the Fed has suggested, the U.S. economy was more than strong enough to absorb the blows of Katrina. The labor market is still pretty resilient.
bond market problems
The bond market is just overwhelmed by problems abroad,
christmas far market seen tired
I think the market is tired of Christmas. We've already seen the Christmas reports. As far as the market is concerned, that's old news.
bond market speech stability telling traders worst
This speech is telling traders that the stability they've come so well to know is their own worst enemy, ... the bond market has not priced in enough risk.
backs environment labor markets older people silly tight turning work younger
To be turning our backs on people who want to work is kind of silly in an environment where you've got tight labor markets and we're getting older and need younger people to work.
backs critical environment flooding given hardship illegal labor markets obvious older people silly tight turning work younger
Given the obvious hardship of having illegal aliens flooding in, we also know they are critical to the functioning of the U.S. economy. To be turning our backs on people who want to work is kind of silly in an environment where you've got tight labor markets and we're getting older and need younger people to work.
catching earnings fed market positive third until willing
The Fed is willing to overshoot the mark. I want to underscore that we're catching up. We're getting the market back in line, but we're not going to see positive earnings from that until we get into the third quarter,
aftermath effect fallout labor market
In the aftermath of Katrina, the effect on the labor market from the fallout has been limited.
effect running slowing winter
We weren't running our heaters very much this winter and this would have the effect of slowing down production,
fed sure today
What the Fed told us today is, we don't think we are done yet and we are not sure when we will be done.
both crippled economy efficient energy expected growth katrina less quarter remarkably resilient response shocks
It was an extraordinary quarter for productivity growth. Katrina was expected to lop off growth and give us a crippled and less efficient quarter. Instead, it showed how remarkably resilient the U.S. economy was both in response to the hurricanes and the energy shocks that accompanied them.
behind creep inflation pressure pressures
Is the pressure on inflation behind us? I think not. Inflationary pressures are not going to surge overnight, but they'll creep up.
bad clearly concerned cycle difference fed gets good growth overly stage
There's a difference between good growth and bad growth at this stage of the cycle and this is clearly not the kind of inflationary growth that the Fed gets overly concerned about,
driving early economic growth less means played playing role twice
Even more than the early 1990s, this is a jobless recovery. Productivity growth is playing twice the role it played in the early 1990s in driving economic gains, which means less payrolls growth.