John Ryding
John Ryding
activism applied applying competition department increasing justice model rather seems
This increasing activism by the Justice Department seems to be applying a model of competition that applied to 19th-century America, rather than 21st-Century America.
above although auto below business consumer edge expect fourth higher hurricane inventory lower percent recovery result slow spending
Although we expect consumer spending to slow sharply in the fourth quarter, to below 2 percent, as a result of lower auto sales, we expect that GDP will still edge back above 4 percent on an inventory rebound, higher business spending, and hurricane recovery spending.
although auto change consumer data picture reflect report retail sales since slowing spending weak
Although the retail sales report was not as weak as expected, it does not change the picture of slowing consumer spending growth, especially since the auto sales data do not reflect Detroit's reality.
again bond borrowing compensate continue costs credit cut fed flows hopefully house lack market means november people problems rates remember suspect
This means people will be able to go out and refinance their house where they may not have been able to do before and I think that we have to remember this isn't over. I suspect the Fed will cut rates again in November and that will continue to keep a lid on borrowing costs and hopefully will compensate for some of the lack of credit flows to corporations that problems in the bond market have caused.
allow doubt economics fed political politics pressure september
There's no doubt there's political pressure on the Fed to do nothing on September 20th. The Fed will allow economics to overrule the politics of the situation.
barrier fed interest lowering rates
There's no barrier to the Fed lowering interest rates significantly.
believed claims despite due fewer january level low normal partly remained resulted return typical warm weather
The low level of jobless claims in January was believed to be partly due to unseasonably warm weather that would have resulted in fewer than normal seasonal layoffs. However, despite a return to more seasonally typical weather in February, unemployment claims have remained low.
fed influence issue level market stock
The level of the stock market is always an issue for the Fed but I don't think it's such an issue that it's going to influence Fed policy.
claims consistent creation job level low remained solid
The level of claims remained low and consistent with solid job creation.
coming corporate example large normally quiet rush supply time
And also there's a large rush of supply of corporate bonds, for example, coming to market. So we're getting a lot of supply this time of year, where normally it would be more quiet time for issuers.
bit communication fed management
The management of communication here and the way things were said has, I think, undermined a little bit of Fed credibility for now.
details growth last orders paint picture rate report robust stronger three underlying
The underlying details of this report paint a stronger picture of the manufacturing sector, as evidenced by the robust growth rate of orders excluding transportation over the last three months.