This will help boost overall economic growth to above 4 percent our current (third-quarter) estimate is 4.5.
More Quotes from Steven Wood:
Although productivity is not likely to return to the supercharged pace of last year, it is likely to settle in comfortably above the 1.5 percent average pace during the 20 years before 1995,Steven Wood
Industrial activity is contracting across a broad set of industries, reflecting the declines in both consumer and business spending.
Steven Wood
The Committee is placing more weight on current data releases and, therefore, less weight on forecasts of economic activity and inflation. What I'm foreseeing is that the Fed is going to keep on tightening due to the economy being stronger in the first half of the year.
Steven Wood
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.
Steven Wood
In the past year, the number of people receiving state benefits has increased by more than a million, ... Although the pace of layoffs has eased, job creation remains nonexistent.
Steven Wood
Despite the loosening of the labor markets, income gains remain sufficient to support spending at a moderate pace.
Steven Wood
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