Greenspan acknowledged unambiguously that there is not yet enough data to be sure growth has slowed in a sustained way, ... But his willingness to dig deep to find possible reasons why it might have suggests he is ready to wait before raising rates again.
More Quotes from Ian Shepherdson:
The March Beige Book paints a clear picture of an economy straining at the seams. Significantly, compared to recent Beige Books, there was more detail, and a more worrying tone, to the comments on the labor market.Ian Shepherdson
These data leave confidence very close to its cycle high, and completely unaffected by higher interest rates, ... Together with the rise in home sales also reported today, the data sit very uneasily with Mr. Greenspan's dovish tone last week and again today.
Ian Shepherdson
Our measure of core sales, which excludes autos, gas and food, rose a pitiful 0.1 percent, the worst performance since April and impossible to square with Mr. Greenspan's assertion last week that the economy is regaining traction.
Ian Shepherdson
The Chicago PMI has been very volatile over the past couple of years, probably as a result of the tribulations of the auto industry. As a result it has become a less reliable indicator of movements in the national ISM and the January dip does not necessarily mean the ISM will follow suit.
Ian Shepherdson
We remain of the view that the Fed's near-term objective is simply to support the stock market until consumer and business sentiment improves,
Ian Shepherdson
Readers Who Like This Quotation Also Like:
Based on Keywords: unambiguouslyA lot of people like snow. I find it to be an unnecessary freezing of water.
Carl Reiner
I did gymnastics when I was growing up and to this day I can still do the splits.
Kristin Kreuk
When you are in a band for a number of years you loose your identity in a way. You become a part of that band and then all of a sudden you are not part of that band. You are still the band without the other two members.
Greg Lake