Diane Swonk
Diane Swonk
job maybe obviously people security stretch trading trying wages
obviously something that (the Fed) is trying to stretch for, saying, 'Well maybe people aren't trading job security for wages anymore.'
bad indicator people secure whether
very bad indicator on whether or not people feel secure about their jobs.
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.
amazing anyone employ force happens labor people start wars willing
Once you really start having bidding wars over people and you're willing to employ just about anyone who breathes, it's amazing what happens to the labor force participation rate.
adds economic feels paper people sharing
It adds up on paper to look a lot better than what it feels to people, ... not as many people are sharing in the economic gains.
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.
people stop sudden
Steakhouses all of a sudden don't look so good, but people don't stop eating,
industrial numbers people production retail sales
The retail sales and industrial production numbers could be better than people expect.
advantage consumers days fewer floors helping hiring holiday large less people retailers shopping six taking
Not only are retailers doing more with less, like every other large corporation, and taking advantage of six fewer days in the shopping season, but they are actually hiring less this holiday shopping season, so there's fewer people on the floors actually helping consumers out.
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,