Some slippage in other categories is probably due given very strong gains in recent months.
More Quotes from Jan Hatzius:
It's a moderate economic headwind. It takes a couple of percentage points off of the GDP growth rate, but it's not the sort of oil shock that would be required for a much more significant slowdown.Jan Hatzius
The September consumer confidence number on Tuesday is going to be pretty interesting. You could easily get a huge decline.
Jan Hatzius
It makes sense they would make it a little more open, just because the next meeting is still pretty far away, and when you have a new guy coming in you want to give him as much wiggle room as possible.
Jan Hatzius
We do believe that the U.S. housing market is a bubble in the sense that its contribution to consumer spending is unsustainable. Households have used a large share of the recent home equity gains to supplement their spending. When these gains dry up, as they ultimately must, spending is likely to weaken substantially.
Jan Hatzius
While the official productivity data look impressive, alternative measures that are equally reasonable show a much more subdued picture.
Jan Hatzius
A year ago, it was not that difficult to predict six months in advance where they were going to be. That's going to be harder when you are at 5 percent and you think the economy is going to be weak enough to get them to cut rates.
Jan Hatzius
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