People told consumer surveys they were miserable, but they were willing to borrow money to pursue a bargain,
More Quotes from Ian Shepherdson:
There is a specific reference in February to 'the pace of policy moves at upcoming meetings ... would depend on incoming data', suggesting a degree of potential flexibility that was absent from the December minutes,Ian Shepherdson
This is a sign that the committee is beginning to think aloud about shifting to a more neutral position - but the forecast of significantly slower growth will have to come first, ... For now, the elevated headline inflation rate and the tight pool of available labor remain bigger concerns, so the Fed's guard is still up.
Ian Shepherdson
The Fed chairman is not habitually in the business of delivering shocks to the markets unless the circumstances are especially dire. That is certainly a fair description of the situation in the states hit by Katrina, but it does not apply to the rest of the economy.
Ian Shepherdson
The ISM survey clearly promises much bigger increases in production ahead, but for now the official data are lagging the survey a bit,
Ian Shepherdson
With productivity likely to slow a bit further, there is little room for maneuver. In short, good news today but not enough alone to change the outlook.
Ian Shepherdson
He used the word 'pre-emptive,' which was the signal he used before the March 1997 rate hike.
Ian Shepherdson
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I asked the waiter, 'Is this milk fresh?' He said, 'Lady, three hours ago it was grass.'
Phyllis Diller
I love to write, to sing, to make music. Not to act: I am horrible.
Kim Carnes