The results are great for builders, great for sellers of home building products and consumer household products, and great for growth, ... But, the dramatic strength in both units sold and in prices are both more fuel for a more aggressive Fed.
More Quotes from David Orr:
It's like the kid doesn't want to take any medicine, but it's good for him, ... It's a little medicine now versus a lot of bad medicine later.David Orr
We would not argue the gradual year-to-year increase in unit labor costs is not of concern at the Fed, but are convinced that none of today's data will impact their decision at their next meeting on Oct. 5,
David Orr
There's definitely that possibility, although one of the things the Fed wants to get away from is slavishly bowing to that lather, ... I'm still expecting a quarter point cut. There's a concern by some members of the Fed that they risk over stimulating the economy. And if you keep making half-point cuts, you'll run out of bullets pretty quickly.
David Orr
Despite the discouraging headline that CPI inflation rose, there was actually more to be encouraged than discouraged about in this report. Since it is already known that gasoline has dropped sharply in October, that September rise can also be ignored.
David Orr
While the monthly data is often erratic and the government statisticians warn that it takes four months to establish a change in trend, it is pretty clear from the top chart that the explosion in housing from 1997 through early 2000 is ending.
David Orr
The report will not comfort the Fed, despite the good headline data, ... The news further back in the pipeline was not good.
David Orr
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If mathematics is to be understood widely, we need to emphasise its elegance and its applications. Sometimes it seems that universities want to emphasise how difficult it is!
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