Joshua Shapiro
Joshua Shapiro
expecting hard hike minutes next people pointed pounding reaction saw table worst
People were expecting the worst and I think the reaction you saw is that it wasn't as Draconian as many had feared. There wasn't any real hard table pounding or anything in the minutes that pointed to a 50-basic point hike at the next meeting.
compared hard imports large near rate slow term
It's going to be hard in the near term to do anything more than slow the rate of deterioration in the deficit. Imports are just too large compared with exports.
gasoline impact tax
Refinery shutdowns will have a big impact on gasoline prices, ... and that's a tax on consumers.
bets capacity damage gasoline higher powerful prices stay storm wait
It's a wait and see. If we get another powerful storm that does damage to refining capacity in particular, I think all bets can be off if gasoline prices will go higher and stay there.
likely resume robust role third trade weight
In the third quarter, trade will resume its role as a weight on growth, but we are still likely to see a robust G.D.P. picture.
benign dollar far imported inflation prices reading worry
There's not much to worry about as far as imported inflation is concerned. For as long as the dollar hangs in there, we should see a benign reading for import prices excluding fuels.
basis message nearly points raising trying
I think they are trying to say that they can still do their tightening 25 basis points at a time, but they still have a long way to go in raising rates. Essentially, the message is, 'if you think we're nearly done, think again'.
expecting housing moderate peaked
Housing has peaked and we're expecting some moderate weakening in 2006.
demand domestic economic economies exports good growth inventory reasonably rebuilding strength strong tied
The strength in manufacturing is increasingly tied to strong demand for exports as well as reasonably good domestic demand. Other economies are doing well and we've still got reasonably good economic growth and inventory rebuilding in the U.S.
consumer core fed focusing growth inflation labor lately level news quite side stage
The Fed isn't going to get exited about inflation in the labor market. At this stage they are focusing on core inflation at the consumer level and growth. Certainly, the news lately on the growth side has been quite good.
clean few labor market moment months national numbers
The national labor market numbers are being skewered by the hurricanes at the moment and it's going to be a few months before we get a clean read.
blunt deficit effect export fully growth help likely months ought remain solid trade
Export growth will remain solid in the months immediately ahead, which ought to help blunt (but not fully offset) the detrimental effect on the trade deficit of a likely acceleration in import growth.
economy exports growing nice rising
Things are pretty healthy. The economy is growing at a nice clip, exports are rising and inventories are being accumulated.
companies finished higher hit labor offset prices products profits question raise unit
The big question now is how much companies will be able to raise prices for finished products to offset the hit to profits from higher unit labor costs.