We are just starting to see the impact of Katrina. We are going to see awful inflation numbers, awful employment numbers and awful industrial production numbers for a few months.
More Quotes from Nariman Behravesh:
The good news for the U.S. is that growth has diversified. We aren't just relying on the consumer and housing.Nariman Behravesh
Perhaps the single best piece of economic news in 2005 was that record-high energy prices did not spill over into the rest of the economy. While the Fed can be relaxed about inflationary risks in the U.S. economy, its role is to preempt.
Nariman Behravesh
I think the way out of these deficits is that the U.S. currency will start to come down over the next two to three years.
Nariman Behravesh
It is encouraging that core inflation in 2005 was no higher than the year before even though we had record oil prices. From that perspective, the Fed can feel confident that inflation won't get out of control.
Nariman Behravesh
The U.K. tried to cool off the housing market and slow their economy a bit, and they're caught in a situation where the economy is slowing but inflation isn't mostly because of oil prices, ... It's a bit of a dilemma, and that's reflected in their split vote.
Nariman Behravesh
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