It is certainly clear that record warm weather for much of the region for January and February played an important role in supporting the economy.
More Quotes from Ernie Goss:
The 15 Fed rate hikes and higher energy prices, even with the warmer than expected winter weather, are having negative impacts on confidence among regional supply managers and business leaders.Ernie Goss
No other state in the nation stands to derive as much of an economic stimulus from the opening of the Asian beef market as Nebraska. However, economic gains are going to be slow going as food-processing firms attempt to re-establish a beef presence in these foreign markets.
Ernie Goss
Higher interest rates are cutting a bit into confidence, and now oil prices are going back up to post-Katrina levels.
Ernie Goss
The rate at which our Asian trading partners open their borders to U.S. beef will be an important factor affecting growth for the state in 2006.
Ernie Goss
While our inflation gauge and most national inflation indicators point to somewhat lower inflationary pressures ahead, I expect the Federal Reserve Open Market Committee to raise interest rates at its next meeting on Jan. 31. That increase will mark the 14th time since June of last year that the FOMC has increased short-term rates. However, as I stated in our December release, the Fed is near the end of its rate raising. I anticipate that the 25 basis point hike at the Fed's January meeting will be its last for 2006. Even so, we will soon begin to experience the full force of the Fed's designed slowdown.
Ernie Goss
Increases over the past two months point to solid growth into the second quarter of this year.
Ernie Goss
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