At the same time, notwithstanding the lack of job creation, the economy is generally strong.
More Quotes from Steve Stanley:
The Fed may need to prove its inflation-fighting credentials because expectations could be shifting a bit. The case for continued rate hikes has become, if anything, more compelling since Katrina,Steve Stanley
Once we get a few strong payroll gains, the tightening cycle will commence, ... That could be three months away or another year away. No one, including Greenspan, knows the timeframe but make no mistake, tightening is coming sooner or later.
Steve Stanley
It is reassuring that the February drop in confidence appears to have been a one-off event rather than the beginning of a trend.
Steve Stanley
The gain was smaller than we had expected, and much of it came in utility usage, reflecting the extremely cold weather in the period.
Steve Stanley
The bottom line is that, with employment and income gains picking up, it will take mortgage rates a lot higher than 6.24 percent to choke off housing demand. We will probably get to a level of rates that bites eventually, but certainly not in the next few months.
Steve Stanley
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