Henry Willmore
Henry Willmore
Henry Wilmore is an American former basketball player who is most known for being a National Collegiate Athletic AssociationAll-American in 1972 while playing for the Michigan Wolverines. He played at the University of Michigan from 1970–71 through 1972–73, scored 1,654 points and grabbed 573 rebounds. A native of Manhattan, New York, Wilmore honed his skills and tenacity by playing streetball at well-known basketball courts, such as Rucker Park...
decline profits rate second slower
Profits will probably still decline in the second quarter, but at a slower rate than in the first quarter.
carefully data fall investors momentum notice profits quarter second seeking trouble turn worth
It will be worth the trouble for investors seeking a turn in momentum to squint carefully at the data and notice that profits did not fall as much in the second quarter as they did in the first.quarter.
change fiscal fortunate outlook policy quarter
I think we'll be fortunate if a quarter of that materializes. The change in the outlook for fiscal policy is remarkable.
anxious believe bring current cycle data easing economic fed given however point soon
Given these considerations, we believe the Fed is anxious to bring the current easing cycle to an end and will do so as soon as the data point to some economic improvement, however modest.
change close contribute either fell fourth growth level matters percent quarter quite rapidly
What matters for GDP growth is not either the level of inventories or the change, but the change in the change. That's going to be quite positive. Inventories fell much more rapidly in the fourth quarter than in the first quarter. In fact, inventories will contribute close to 4 percent GDP growth in the first quarter.
date fairly fed focus further inflation job labor market slow stable
If inflation were to slow down some more, that would put off the date of any further tightening. But if it's stable or rising, the Fed will focus more on job numbers. We think the labor market indicators will be fairly strong.
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I wouldn't give this a lot of weight and say this is leading the economy. It's sort of catching up to what has been strong economic activity for several months now.
case cut downward jumps picture point reinforce weaker
The thing that jumps out is the downward revisions on the data, which were pretty substantial and give you a much weaker picture than expected. I think these revisions reinforce the case for a (half-percentage) point cut at (Tuesday's Fed) meeting.
bit fed moves puzzled surprising
This is one of the more surprising moves the Fed has made in a long time. I'm a little bit puzzled by this.
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The more important development more recently was the tax cut that was enacted over the weekend, which will provide some pretty good support for consumer spending over the next few quarters.
cuts effective holding job labor main reason
And the main reason for that will be the job cuts that enabled firms to do a more effective job of holding down labor costs.
half headed next percent sometime
We're headed to around 6.5 percent sometime in the first half of next year.
market risk taken
Previously the market had taken out any risk of a second-quarter tightening by the Fed. With this statement, we see that's not a risk to be discounted.
good morning numbers
On balance, I'd say the numbers this morning were more good than bad.