Ken Mayland
Ken Mayland
definitely fed funds neutral
We are definitely in the neighborhood of a neutral fed funds rate.
difficult initial month period volatile
As we get into the month of July, it is always a difficult and very volatile period for initial claims.
absolute december declined faster february future good implies report signs
The most encouraging signs in the December report was that inventories declined in an absolute sense and at a faster rate. That implies a need for future restocking and that should be a good sign for January, February and March.
growth rebuilding spur
There will be a lot of rebuilding that is going to need to occur. These things do spur GDP growth.
brain complete component education plan seeing
Any long-term plan without an education component isn't a complete plan. We are seeing a brain drain.
auto cannot monstrous normal sales
Auto sales at these monstrous levels, these gargantuan levels, cannot be sustained. They will come back to normal levels.
course determine employment further information needed neither nor proper report screams shouts stop
This employment report neither screams tighten further nor shouts stop here. More information from other indicators is needed to determine the proper course of policy.
confidence energy fact heart higher housing interest market moved rates slowing worries
I think we can take heart in the fact that even with all the worries -- about energy prices, higher interest rates and a slowing housing market -- confidence moved higher.
associated below definitely good growth job number track
I think any number below 350,000 is associated with good job growth. I think we are definitely getting back on track for fundamentally good job generation.
consumers decline indication inevitable month particular retail sales
It is inevitable that we will see a 1% or 1.5% decline in retail sales in an upcoming month as consumers become sated with new vehicles. ... This will not be an indication of any particular vulnerability.
bills bleak deal disrupted fear gasoline great hand home lives pay people sad view worrying
There is a great deal of fear and uncertainty out there. On the one hand it's sad to see peoples' lives disrupted and destroyed. On the other hand, people are worrying about how they are going to pay their gasoline bills and their home heating bills this winter. It makes for a pretty bleak view of the future.
auto bounce economy economy-and-economics expect fully points sales stronger strongly
I fully expect the economy to bounce back strongly in the first quarter. Auto sales will be stronger and inventories are still very lean, which points to a better first quarter.
announced anticipate core further incentive items liked love next softness
If you liked October, you are going to love November, ... because you can anticipate some further softness in these core items like new cars. G.M. has already announced the next incentive program.
economy economy-and-economics good holy major shows spite weathered
Holy Katrina! The economy weathered two major hurricanes and in spite of that showed accelerated growth. I think what this shows is that fundamentally the economy was and is in really good shape.