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,
More Quotes from Ian Shepherdson:
There is no clear steer on policy in this speech analysts with different views will read it in different ways. But we think the Fed chairman knows recovery is here he just wants to be a bit cautious -- and in both directions, which means no more easing,Ian Shepherdson
Ignore the ISM at your peril, ... Assuming this report is not a fluke - everything we look at suggests it is very real - it is consistent with year-over-year GDP growth accelerating to 4 percent by the summer.
Ian Shepherdson
This testimony did not give the impression that he is in a great hurry to cut rates immediately.
Ian Shepherdson
Overall, solid domestic final demand, but the second quarter will be much weaker. We expect growth to slow to 3 or less, led by a sharp slowing in consumption.
Ian Shepherdson
This is a low enough number to be interesting, but not so low that it clearly marks a favorable shift in the trend,
Ian Shepherdson
A serious downturn in housing activity will have to wait until there is a meaningful increase in mortgage rates, ... For that, we have to wait until payrolls take off and the Fed signals tighter policy.
Ian Shepherdson
Readers Who Like This Quotation Also Like:
Men for the sake of getting a living forget to live.Margaret Fuller
I'm tired, but proud.
Norman Rockwell
Fort Leavenworth is in fact no fort, being without defensive works, except two block-houses.
Francis Parkman