In the FOMC statement, the Fed may have little choice but to acknowledge Q4 weakness, but will probably maintain that the first half (of 2006) should be better.
More Quotes from Ian Morris:
We haven't adopted this scenario, but we are studying what it would mean if this paper is correct. If we adopt this as our baseline forecast, everything changes.Ian Morris
It's a great picture, it reduces unit labor cost growth, which improves the inflation outlook. Awesome.
Ian Morris
It seems there was a fairly robust debate about the pros and cons of moving or not,
Ian Morris
Overall price inflation remains under control.
Ian Morris
We think the trade deficit deteriorated to 67B in January, the widest since October. Petroleum imports likely rose by over 1B due to higher prices - up 6.4. In real terms, imports were probably close to unchanged. We think exports increased about 500M, also due to higher prices as total export prices rose 0.7. Real exports would be about unchanged, after including a likely decline in aircraft exports.
Ian Morris
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We can't solve problems by using the same kind of thinking we used when we created them.
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