David Wyss
David Wyss
David Wyss is an American economist. As New York-based Standard & Poor's chief economist, Wyss was responsible for S & P's economic forecasts and publications. He also coauthored the monthly Equity Insight and the weekly Financial Notes. He was on the board of the National Association for Business Economics, Washington, D.C...
among dying eat elderly health incredibly people poverty program security social successful virtually
Back when the program was created, elderly people were dying because they had nothing to eat and no health care. Social Security has been incredibly successful at virtually eliminating poverty among the elderly.
people
That's what people say but probably not what they do.
backed bigger break energy gotten harsh inflation katrina oil prices rise risk
There is a risk that energy could break out into a bigger inflation problem. We have gotten through Katrina and oil prices have backed off a bit, but there is a risk that if we have a harsh winter, energy prices will rise again.
currency drop feared impact japan last negative value year
In Japan's case, back in 2003-2004, they feared the yen would drop too much in value and they intervened heavily in the currency markets. Then, Japan ceased intervening over the last year or so -- but this didn't have much of a negative impact on U.S. markets.
basically consumers gas sales
If you take out gas and cars, sales were basically flat. Consumers are getting more cautious.
capital finance trying
If you're trying to finance capital spending, you do that off saving.
cliff recession suddenly until walk worry
I don't think there's any cliff you suddenly walk off. I'm not going to worry about a recession until we get up to $100 a barrel.
avoid buying christmas coming hit move taking
I don't see how we can avoid taking a hit and it will be coming right as we move into the Christmas buying season.
bit consumer drive oil recession slow spending
Consumer spending may slow down a bit more than thought. But, it won't drive us into a recession - that would probably take oil going well over $100 a barrel.
consumers darn hearts spending
Consumers are spending their little hearts out. We are doing pretty darn good.
affects concerned continue economy fed hikes june pause pointing problems rather toward year
It is rather encouraging that the Fed is pointing toward a pause after the May hike. A lot of us were getting concerned that the hikes would continue into June and August. And one of the problems is that what the Fed does now affects the economy a year from now.
core inflation leaking rate
It's not leaking into the core inflation rate as it did back in the 1970s.
accumulate basket china dollars exchange foreign instead logical market move moved peg relative since yuan
They have to accumulate dollars to keep the yuan down relative to the dollar. But since China has moved to peg the yuan to a market basket of currencies, instead of just the dollar, it's logical for them move their foreign exchange holdings to the same basket.
creeping inflation worried
They like inflation where it is now. But they're worried that it's creeping up.