In an environment of slower growth, steady job creation, weaker productivity gains, and modestly rising inflation that we envision for 2005, the FOMC will continue to lift its target federal funds rate,
More Quotes from Steven Wood:
Labor markets are deteriorating quickly in the wake of the terrorist attacks on September 11, ... The economy was quite weak before the attacks, which have accelerated the pace of layoffs. As layoffs spiral higher, hiring activity has stopped, giving a strong upward push to joblessness.Steven Wood
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.
Steven Wood
Housing-related activity has definitely slowed and its contributions to economic growth, both direct and indirect, will fade over the next couple of quarters.
Steven Wood
Consumers still remain optimistic about the future despite having some concerns about the present. This is very typical of a business cycle turning point,
Steven Wood
The trade figures are distorted by the effects of foreign re-insurance on the World Trade Center. Nevertheless, international trade is contracting.
Steven Wood
This will help boost overall economic growth to above 4 percent our current (third-quarter) estimate is 4.5.
Steven Wood
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