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...
basis early easily economy given increase interest last march momentum move points raise rates signs slowing unless year
Given the momentum in the economy at the end of last year and in the early part of this year, the FOMC will undoubtedly have to raise interest rates yet again, ... Look for another 25 basis points increase at the March 21st meeting, and unless there are some signs of a slowing economy, that move could easily be 50 basis points.
affected attacks caused directly economic events industries initial layoffs rolling second terrorist wave
The initial wave of layoffs in those industries most directly affected by the terrorist attacks has passed. However, there is another wave rolling to shore. This second wave will be from the subsequent economic dislocations caused by the Sept. 11 events and be much more diffused through the economy.
combined consumer early forecasts growth lower pace retail sales scope second slower spending vehicle
Importantly for the Fed, the pace of real consumer spending slowed in March, and combined with early forecasts for lower vehicle and retail sales for April, suggests there is some scope for slower growth in the second quarter,
additional beginning data evidence market open provide scenario
These data provide additional evidence that a soft-landing scenario is beginning to unfold, much to the (Federal Open Market Committee's) delight.
businesses economic fourth growth largely mean neutral production ramp rebuild stronger third
Inventories are going to be largely neutral for economic growth in the third quarter. In the fourth quarter, as businesses ramp up production to rebuild inventories, that will mean more hiring, more production and a stronger economic environment.
concern economic fed inflation low outlook tame uncertain
Inflation is sufficiently low and tame -- and the economic outlook is sufficiently uncertain -- to be of little concern to the Fed at present.
companies competition demand intense preventing raising slack
Slack demand and intense competition are preventing companies from raising prices.
interest lower outlook providing rates support
Only lower interest rates are providing any support at the moment, ... The outlook is still worrisome.
although bias change committee data expected interest market meeting next open rates retain toward
The FOMC (Federal Open Market Committee, the Fed's policy-making arm) will look at these data as being benign, ... No change in interest rates is expected at next week's meeting although the committee will retain its bias toward tightening.
beginning confidence consumer creation equity flat growth home housing income job markets mortgage next past rates sales several since suggest
Housing fundamentals are deteriorating, ... Mortgage rates have been flat since the beginning of the year. Job creation and income growth has slowed. Equity markets have plunged over the past year. And consumer confidence has tumbled. Moreover, mortgage applications have trailed off. All of these suggest that home sales should weaken over the next several months.
activity adjustment bit data economic insure inventory needed suggest taking
These data suggest that a bottoming in economic activity is taking place, but a bit more inventory adjustment is needed to insure a re-acceleration in growth,
activity adjustment bit data economic insure inventory needed suggest taking
These data suggest that a bottoming in economic activity is taking place, but that a bit more inventory adjustment is needed to insure a re-acceleration in growth.
actual defiance economic households largely optimistic relatively
Households are maintaining relatively optimistic assessments of economic conditions, largely in defiance of actual events.
associated claims continuing employment gains gradually labor levels markets payroll
New and continuing claims are at levels that historically have been associated with payroll employment gains of around 225,000. Labor markets are gradually improving.