Henry Willmore
Henry Willmore
Henry Wilmore is an American former basketball player who is most known for being a National Collegiate Athletic AssociationAll-American in 1972 while playing for the Michigan Wolverines. He played at the University of Michigan from 1970–71 through 1972–73, scored 1,654 points and grabbed 573 rebounds. A native of Manhattan, New York, Wilmore honed his skills and tenacity by playing streetball at well-known basketball courts, such as Rucker Park...
date fairly fed focus further inflation job labor market slow stable
If inflation were to slow down some more, that would put off the date of any further tightening. But if it's stable or rising, the Fed will focus more on job numbers. We think the labor market indicators will be fairly strong.
decline profits rate second slower
Profits will probably still decline in the second quarter, but at a slower rate than in the first quarter.
case cut downward jumps picture point reinforce weaker
The thing that jumps out is the downward revisions on the data, which were pretty substantial and give you a much weaker picture than expected. I think these revisions reinforce the case for a (half-percentage) point cut at (Tuesday's Fed) meeting.
activity catching economic economy-and-economics leading months several sort strong weight
I wouldn't give this a lot of weight and say this is leading the economy. It's sort of catching up to what has been strong economic activity for several months now.
carefully data fall investors momentum notice profits quarter second seeking trouble turn worth
It will be worth the trouble for investors seeking a turn in momentum to squint carefully at the data and notice that profits did not fall as much in the second quarter as they did in the first.quarter.
half headed next percent sometime
We're headed to around 6.5 percent sometime in the first half of next year.
cut fed improvement inspire might numbers recent start view weakness
We should start to see better numbers in the May data. If we don't see improvement, it would be much more worrisome than the recent weakness and might inspire the Fed to cut in June. My own view is that we will see better numbers.
downside mainly
There's a lot of uncertainty about the outlook. There are a lot of risks, mainly downside risks.
coming data employment thursday
The more significant (weekly jobless) data will be coming in on Thursday and (the monthly employment data) on Friday.
cuts effective holding job labor main reason
And the main reason for that will be the job cuts that enabled firms to do a more effective job of holding down labor costs.
bit fed moves puzzled surprising
This is one of the more surprising moves the Fed has made in a long time. I'm a little bit puzzled by this.
consumer cut few good next provide recently spending support tax
The more important development more recently was the tax cut that was enacted over the weekend, which will provide some pretty good support for consumer spending over the next few quarters.
change fiscal fortunate outlook policy quarter
I think we'll be fortunate if a quarter of that materializes. The change in the outlook for fiscal policy is remarkable.
market risk taken
Previously the market had taken out any risk of a second-quarter tightening by the Fed. With this statement, we see that's not a risk to be discounted.