The Fed will need to cut interest rates further.
More Quotes from Steven Wood:
Leading indicators of job creation were generally favorable.Steven Wood
The sharp slowing in domestic demand has dramatically reduced imports. Weakening economic activity in our major trading partners has significantly reduced the foreign demand for American-made products.
Steven Wood
These data are consistent with slower but still solid economic activity.
Steven Wood
Only lower interest rates are providing any support at the moment, ... The outlook is still worrisome.
Steven Wood
The gentle slowing trend that had been in place for much of 2005 appears to have been halted and partially reversed. However, like many other economic relationships, the one between the index of leading indicators and subsequent economic growth has loosened significantly in recent years.
Steven Wood
The burden of higher interest rates will weigh down the housing industry further. This, in turn, should lead to moderated residential construction and home related consumer spending on goods such as furniture, appliances, and home improvement items in coming months.
Steven Wood
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