Mark Vitner
Mark Vitner
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In the end, we can work this out. It is $200 billion in spending for a $12 trillion economy, ... It's just a matter of how we finance it, not whether or not we can afford to do it.
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Consumers are fairly worried about the economy. ... I think the holiday season is going to be ho-hum,
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I really can't recall a time in history when the Florida economy was as strong as it is today.
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(The Fed) would rather see slower economic growth over the next two years than the return of stagflation three or four years down the road. And I think they'll do everything they have to make sure we don't have stagflation.
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Demand in the U.S. economy is reasonably strong and retailers are probably optimistic about the holiday shopping season so they are starting to order from abroad now. The trade deficit is going to take some time to turn around. It may not happen until next year.
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They are trying to transform their economy. Georgia is trying to improve its economy.
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The leadership in the economy is going to shift from housing and consumers to businesses. There's nothing unusual about that. It's healthy.
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The economy seems to be getting over the bursting of the tech bubble. It finally appears that the Triangle is firing on all cylinders.
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Coming on the heels of the recent spate of weaker economic reports, the better than expected inflation news will probably cause the Fed to leave interest rates unchanged at their June FOMC meeting, ... It is still way too soon, however, to conclude that the Fed is done.
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The two-steps-forward, one-step-back sequence is not at all uncommon for the Consumer Confidence Index during the early stages of an economic recovery.
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You could even interpret the minutes to read that economic growth has already slowed to its long-run potential and that the federal funds rate is already at a neutral level. The Fed's commentary describes an economy that is nearing or already in the early stages of a soft landing.
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I don't see any storm clouds on the economic horizon. We don't see any potential land mines or problem areas. Even an attack on the scale of 9/11 would not cause the economy to go into recession in the next two years.
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That tells me not only is the global economy not strengthening, but it's getting weaker.
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it's somewhat surprising how resilient the economy has been, despite higher energy prices.