It suggests the drag on the economy from the trade deficit in the third quarter will not be as great and could help revise up third-quarter GDP a bit,
More Quotes from Gary Thayer:
He's mentioning that the dollar should stay firm and that's been a good factor for our economy. He's been concerned for some time about foreign investors wanting to keep their money here and if we keep our policies in line that should hold for a while.Gary Thayer
This is probably going to keep the Fed concerned about inflation.
Gary Thayer
We're not seeing a lot of strength in goods and services right now. Sales are mixed. Some categories are doing OK and others are weak. We're not seeing an outright decline.
Gary Thayer
We did see a big recovery in (producer) prices, but that was primarily in energy. Core prices increased only modestly and that's good news for the Fed.
Gary Thayer
I think the headline number is a bit misleading. It doesn't suggest that the economy is in trouble. Consumer durables production is looking solid, so it's looking like there's still going to be strong first quarter GDP growth.
Gary Thayer
The bond market had been thinking that the weak economic numbers that we've seen would cause the Fed to think twice about raising rates,
Gary Thayer
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