These numbers show the economy is indeed in recession, and they leave the door open for the Fed to cut rates again.
More Quotes from Gary Thayer:
We still have a very weak world economy, despite the fact that the U.S. economy is still doing pretty good, ... We're seeing lower prices basically because there is more production out there than demand.Gary Thayer
Looking back, it is understandable why the Australian and New Zealand currencies peaked in early 2005. That was about the same time that the demand for crude oil also started to moderate.
Gary Thayer
The bond market took the GDP number positively, ... It had expected stronger growth and some people may now be reminded that the Fed will not be quick to raise rates.
Gary Thayer
He's mentioning that the dollar should stay firm and that's been a good factor for our economy. He's been concerned for some time about foreign investors wanting to keep their money here and if we keep our policies in line that should hold for a while.
Gary Thayer
We've been seeing improvement in the non-manufacturing side since late last year. We're seeing more activity in the travel sector and others that were hit really hard last year after the terror attacks.
Gary Thayer
This suggests the government saw more real growth and less inflation in the quarter.
Gary Thayer
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