The Fed's work is beginning to have an effect, ... The economy is definitely beginning to exhibit signs of slowing. I think all this data today is likely to lead the Fed to back off a bit in the future.
More Quotes from Brian Wesbury:
All in all, the economy is not weak enough to warrant another rate cut. However, the Fed will give us one anyway. As always, the end result of excessive ease by the Fed will be higher rates in the years ahead.Brian Wesbury
The numbers we've seen over the past few months have to make them feel better about their stance in monetary policy. It will allow them to remove some of the pressure they feel to maybe raise rates, and in effect move toward lowering rates.
Brian Wesbury
This number is a one-month number. I would really be hesitant to make a trend out of this. If you strip out oil, these numbers do not look so bad and, especially in the producer price area, prices are still falling and this tells me that the pipeline does not have inflation in it.
Brian Wesbury
It will lead to an increase in stock market value, which will help bring initial public offerings back into market, along with merger and acquisition activity, which has been sorely missed in past two or three years. That added financial market activity comes along with a lot of real economic activity as well.
Brian Wesbury
When we have such great inflation news, it's not necessary for the Fed to raise interest rates. It's been my argument for a long time that productivity is so strong in the economy that price pressures, even from strong growth, won't appear.
Brian Wesbury
Real GDP in the third quarter and into the fourth will clear 4 percent, ... The economy has recovered after the war very strongly.
Brian Wesbury
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