In the third quarter, trade will resume its role as a weight on growth, but we are still likely to see a robust G.D.P. picture.
More Quotes from Joshua Shapiro:
The Fed isn't going to get exited about inflation in the labor market. At this stage they are focusing on core inflation at the consumer level and growth. Certainly, the news lately on the growth side has been quite good.Joshua Shapiro
Well, with gasoline well over 3.00 a gallon in most places when this survey was conducted, it is little wonder that consumers were cranky,
Joshua Shapiro
With anticipations of higher rates still clearly in the minds of buyers, we cannot rule out fence-sitters rushing ahead of higher rates.
Joshua Shapiro
We continue to expect the Fed funds target to reach 5 percent in the second quarter of next year, which is where we see the tightening process ending. Comments from Fed officials suggest that they expect only a temporary hit to growth from higher energy prices, while concern about a drift up in core inflation is increasing.
Joshua Shapiro
Everyone was so focused on the word 'measured' that they didn't expect them to update the rest of the language to be more aggressive, so that took people by surprise a little bit,
Joshua Shapiro
Clearly, as this sales data and also the mortgage application data show, there is plenty of strength still in housing. However, is this, as we speculate above, fence-sitting buying ahead of perceived rate increases, or can this pace be maintained as buyers think that low rates will last for the foreseeable future.
Joshua Shapiro
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