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...
actions cannot data fed further future imply ruled
What they did imply was that future Fed actions will become even more data dependent, Further tightening cannot be ruled out.
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This will help boost overall economic growth to above 4 percent; our current (third-quarter) estimate is 4.5.
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There are a few tentative hints -- higher new orders, a drop in the inventory-to-sales ratio -- that the period of maximum weakness has likely passed. Although further declines in output are anticipated, the rate of decline should gradually diminish.
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With employment gains non-existent, income growth has slowed. As households also become more judicious in taking on more debt, consumer spending will remain soft.
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With the airlines reducing schedules, we've already seen that cascade back on airline manufacturers like Boeing. And that has cascading effects on hundreds, if not thousands, of vendors who supply parts and components to Boeing.
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With still strong domestic demand and improving international demand, the factory sector is continuing to recover from the sluggishness that resulted from the Asian economic crisis.
extending period weakness
Weakness was widespread, extending the period of pronounced weakness.
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The recent pace of growth in the leaders suggests that economic growth should slow from its 3.6 percent over the four quarters through the third quarter of 2005.
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The recent movements in the index suggest only moderate economic growth over the next 6 to 9 months.
budget deficit january since time
This was the first time that the January budget has been in deficit since 1992.
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This relative stability has been remarkable given the ebbs and flows in job creation, the equity markets, the conflict in Iraq, the election campaign, interest rates and gasoline prices.
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There is a clear improving trend in orders which provides support for the recovering manufacturing sector, ... Although some of the inventory building that occurred was likely Y2K related and will be reversed in the new year, the acceleration of both shipments and backlogs suggests that the manufacturing recovery has substantial staying power.
august force hand remains
While this will not force the Fed's hand at this week's meeting, an August tightening remains a real possibility.
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While these data will be welcome by the (Fed), two key questions remain. Will the second quarter spending slow down extend through the rest of the year? Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation? At this point, that is still an open question.