Stuart Hoffman
Stuart Hoffman
bit comfort core drew people
People drew some comfort in the smaller-than-expected core index, but I think the core is a bit deceptive.
building markets
There will be some uncertainty in the markets building up at the end of the year. There will be some jitters.
exactly fed housing inflation kinds last likes numbers rate signs slowing speak stopping
These are exactly the kinds of things the Fed likes too see. Signs of a slowing in housing and still-contained inflation are the kinds of numbers that speak to the Fed stopping in May, making that their last rate hike.
absence broad economy good inflation lower noticeable problem report steady
It was a good report right through. As you look through the report there is a noticeable absence of inflation on a broad basis. The numbers, if anything, are steady to lower on inflation and show that it just isn't at all a problem for the economy or the Fed.
consumer good positive sector sign signal threaten
It's not a good sign when delinquencies rise, There are enough other positive things in the consumer sector to say this is not a signal for some significant retrenchment ... that could threaten the economy.
ball extra fed fisher game higher inflation innings late move point quarter risks slower tie
I think the Fed will move a quarter of a point at the end of June, then they may pause. I don't think they're going to stop. I don't think the ball game is over. I think if we are in the late innings and it's still a tie between the risks of higher inflation and slower growth, as Dick Fisher did say, this could go into extra innings.
activity appears cool general moved output parts relatively report solid stronger summer unlike utility
The report is stronger than appears on the surface. Unlike other parts of the economy, manufacturing activity moved up, so I would say in general this is a pretty solid report. Utility output was down probably because of the relatively cool summer we had.
entered jury question seems
There is no question that we've entered a new era. The question seems to be how long it will continue, and the jury is still out on that one.
available base believe business capital conditions continue diverse economic economy favorable footing further growth healthy highly industries investment leave mean presence research rising role technology venture
We believe economic conditions in 2006 will be favorable for further growth in southwestern Pennsylvania's technology industries. Rising business confidence, healthy growth in business investment spending, and increasingly available venture capital will leave our region's technology industries on firmer footing in 2006. A highly diverse technology base and the presence of world-class research institutions mean that, over the longer-term, technology will continue to play an increasingly significant role in the economy of southwest Pennsylvania.
cheap easy past period several sort
(Tuesday) won't be the last. This is not the sort of cheap and easy (money) period of the past several years.
among capital orders quite reflects report spending
When you take out transportation, the report should look stronger. In total, manufacturing orders are quite strong, and that reflects a lot of capital spending going on among businesses.
ballgame innings second
We're still in the first or second innings of the ballgame of replacing Greenspan. But it's not like the game hasn't begun.
federal reserve work
What it does show is that the Federal Reserve has more work to do.
biggest captured center certainly energy increase prices stage
The CPI captured the center stage as it's the biggest one-month increase in 25 years, ... We certainly know why, with energy prices having skyrocketed.