Steven Wood
Steven Wood
Steven Woodwas an Australian sprint canoeist and marathon canoeist who competed in the late 1980s and early 1990s. Competing in two Summer Olympics, he won a bronze medal in the K-4 1000 m event at Barcelona in 1992...
activity aggressive argue economic fed moved rarely
The deterioration in economic activity would argue for a more aggressive move, but the Fed has rarely moved by more than (half a point) during Greenspan's tenure,
gain given housing january recent spending starts strength warm weak
The January gain in construction spending was surprisingly weak given the recent strength in housing starts and unseasonably warm weather.
continued corporate economic equity given level market optimism profits quite rising
The level of economic optimism is still quite high, especially given the continued sluggishness in the economy, rising joblessness, corporate profits warnings and equity market volatility,
below flat generally hurricane leading levels months past since six trend volatile
The leading indicators have been much more volatile since Hurricane Katrina. However, the trend has been generally flat over the past six months, at levels that are well below where they were 12 to 18 months ago.
continues couple grow less moderate pace prior sector strength
The manufacturing sector continues to grow at a moderate pace but with less strength than in the prior couple of months.
affected attacks caused directly economic events industries initial layoffs rolling second terrorist wave
The initial wave of layoffs in those industries most directly affected by the terrorist attacks has passed. However, there is another wave rolling to shore. This second wave will be from the subsequent economic dislocations caused by the Sept. 11 events and be much more diffused through the economy.
concern economic fed inflation low outlook tame uncertain
Inflation is sufficiently low and tame -- and the economic outlook is sufficiently uncertain -- to be of little concern to the Fed at present.
abroad coming conditions continued demand economies economy expanding fast fed given home increased inventory low pace production quite remains robust support sure view
Increased demand in expanding economies abroad and continued robust conditions at home support the production outlook, given the low inventory environment. The Fed is sure to view the economy as expanding at too fast a pace now that manufacturing is coming back and consumption remains quite strong.
combined consumer early forecasts growth lower pace retail sales scope second slower spending vehicle
Importantly for the Fed, the pace of real consumer spending slowed in March, and combined with early forecasts for lower vehicle and retail sales for April, suggests there is some scope for slower growth in the second quarter,
pleased
The FOMC will be pleased with this report,