The broader picture is there's some slowing in housing. It's certainly dollar-negative news.
More Quotes from Alan Ruskin:
Economist Alan Ruskin of I.D.E.A. was one of several Greenspan watchers who said the Fed chairman's remarks were warranted. (His words) are extremely cautionary, ... They are quite clearly roiling the financial markets. I'm increasingly amused at the tenor of these remarks -- how clear-cut they are.Alan Ruskin
It's been such an erratic number of late that it's pretty tough for the market to trade on it,
Alan Ruskin
The numbers Friday were slightly weaker than the original expectations, but after the Chicago PMI yesterday, traders were scaling back their expectations, ... it doesn't give the feel that the economy is falling off a cliff. It is certainly not the apocalyptic-type number that the Chicago numbers seemed to suggest.
Alan Ruskin
The economy is generally slowing for a wide variety of reasons -- energy is one, but also the stimulus is wearing off.
Alan Ruskin
I think (Fed officials have) found that they're in a lucky position where the inflation numbers are good enough that it's bought them some time (to postpone rate hikes),
Alan Ruskin
Non-farm payroll numbers of over 300,000 are pretty much consistent with economic growth of about 4 percent, (and) that's way above trend,
Alan Ruskin
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