Steven Wood Quotes

Higher interest rates have been weathered by home buyers through the use of adept home financing techniques. Nevertheless, the resilience in the housing sector will support further monetary tightening by the Fed.

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Although higher interest rates appear to have begun to have a negative impact on housing activity and consumer spending, sturdy domestic demand and improving international economies have generated an acceleration in manufacturing activity.

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Inventory building is slightly stronger in January and February than it was in 4Q, suggesting that inventory investment is likely to add modestly to Q1 GDP growth.

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Only lower interest rates are providing any support at the moment, ... The outlook is still worrisome.

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Retail sales have slowed over the last six months in response to the slower pace of job creation, higher rates, and increased volatility in the stock market. Indeed, in the past two years there has been tight relationship between the Nasdaq and retail spending, suggesting further spending weakness in coming months.

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Higher claims suggest slower job gains, which should dampen income growth, consumer spending, and overall economic activity.

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What they did imply was that future Fed actions will become even more data dependent, Further tightening cannot be ruled out.

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The Fed will welcome this report as it suggests that slower economic growth will be extended into the third quarter. The probability of an August rate increase continues to diminish and is now below 50 percent.

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While these data will be welcome by the (Fed), two key questions remain. Will the second quarter spending slow down extend through the rest of the year Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation At this point, that is still an open question.

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The general slowing in the growth of the leading indicators over the past year suggests the pace of economic growth should gradually slow over the next three to six to nine months.

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This will help boost overall economic growth to above 4 percent our current (third-quarter) estimate is 4.5.

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Leading indicators of job creation were generally favorable.

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It's unclear whether the declines are related to year-end concerns or to a more general softening in manufacturing activity, but they do add evidence to the (Fed's) forecast for slower growth going forward.

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Housing-related activity has definitely slowed and its contributions to economic growth, both direct and indirect, will fade over the next couple of quarters.

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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.

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Momentum in the leading indicators has slowed over the past year, suggesting an impending slowdown in economic growth.

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This stronger consumer sentiment may yet translate into solid core consumer spending for the holiday season.

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Despite the loosening of the labor markets, income gains remain sufficient to support spending at a moderate pace.

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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.

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While good gains in productivity are economically favorable, it is not a good situation when this occurs because labor input is declining more rapidly than output.

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Despite the strength during the quarter, the period ended on a much weaker note, suggesting (second-quarter) growth is likely to be weaker. These data are unlikely to sway the (Fed) from easing again at (its) May 15th meeting.

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Although these data were better than expected, job creation is still weak.

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The Fed will need to cut interest rates further.

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Although mortgage rates have declined over the past three weeks, mortgage applications volumes have continued to fall. This is partially due to the flat yield curve and partially due to tighter lending standards by financial institutions.

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With a longer-term view, layoffs have accelerated, job creation has slowed, and joblessness has increased.

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