You probably want to subtract about two-tenths of a percent from first-quarter GDP growth. But that's looking like very old history, with the Fed having eased twice since the first quarter. From the market's perspective, you feel like you're in a different world already. The first quarter looks very distant, indeed.
More Quotes from Ethan Harris:
Even with a positive outcome in the war, the economy is going to have lost a lot of momentum by the time it's over. We're not going to see a few weeks of weak data -- we'll see a few months of weak data.Ethan Harris
There's definitely going to be nervousness around the event and a kind of inertia. My wife has already asked me not to come into work that day.
Ethan Harris
In the big oil shocks that really damaged the economy, the tax on the consumer was many times more than that, but that alone wasn't enough. You also had to have people worrying that prices were going higher forever.
Ethan Harris
What we're looking for is evidence of the corporate side of the economy gaining confidence and making real commitments in its own spending. There, I'd say the news is at best mixed,
Ethan Harris
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Based on Topics: History Quotes, Perspective QuotesBased on Keywords: two-tenths
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