By the end of the year, there will be some builders with some overhang of construction relative to demand, ... Now's the time when you'd hope everybody cools off a bit and moderates their building, but that's not human nature -- and it's not the way for homebuilders to make money in the near term.
More Quotes from Diane Swonk:
Larry Summers is the economic conscience of Rubin. He is the economic half of that team. Rubin had market smarts and the political savvy Larry Summers was, in many ways, the economic mastermind here.Diane Swonk
I view the risk as very high that the Fed shifts its bias to tighten (interest rates) sooner than we had forecast. The risk is rising that they will move sooner.
Diane Swonk
Iraq and corporate governance issues have bogged down capital investment decisions. We're seeing companies that are ready to go they're just waiting for a sign.
Diane Swonk
The Fed wants to see whether this July data, this bad economic data, was an aberration, and two months will make it clearer. If they see more instability in financial markets, they will take it lower.
Diane Swonk
There's a difference between good growth and bad growth at this stage of the cycle and this is clearly not the kind of inflationary growth that the Fed gets overly concerned about,
Diane Swonk
We've got the strongest overall profit performance in 30 years, and these are real profits, not the fake ones we saw in the late 1990s.
Diane Swonk
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