Overall retail sales growth in December should be robust.
More Quotes from David Greenlaw:
There is obviously a lot of concern about the state of the housing market right now. One thing that caught a lot of people's attention was this nine-year high in unsold homes.David Greenlaw
This is great news on the inflation front. It will be very difficult for the economy to generate any sustained rise in core inflation with unit labor costs showing such a high degree of restraint.
David Greenlaw
The producer price numbers on Wednesday and the productivity number on Friday are the most important events we have ahead of the Fed meeting. There's still some uncertainty in the market about what the Fed will do and those numbers will be key to figuring that out.
David Greenlaw
While the dissent came as a surprise, we certainly wouldn't read it as evidence of any sort of a significant split on the FOMC.
David Greenlaw
If the Fed has a bit of an itchy trigger finger, the ECI headline number gives them the excuse to go sooner rather than later. It does increase the odds of a tightening on Aug. 24.
David Greenlaw
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