All those speculators who had a great thing going for a couple of years have begun to bail out. The demand is dropping and supply is rising. Unless something happens soon to correct the supplydemand imbalance, prices are likely to decline in the near future.
More Quotes from Joel Naroff:
Bubbles burst, they really do. The Federal Reserve has to be concerned that just may happen, which could make them more cautious going forward.Joel Naroff
Productivity will be stronger in the first quarter, but the trend is still toward moderating growth this year.
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Whatever impacts Katrina had in September were wiped out in October and the nation's service and construction industries are moving ahead smartly,
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The Fed wants to see results, and this report didn't give it to them, ... It looks right now as if the Fed will take out some extra insurance on June 25.
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What it seems to be indicating is that a kind of moderation in the state's economy that we saw in the middle of last year is continuing. When you put these things together we're not seeing a whole lot of job growth.
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If the Fed wishes to wait an extra meeting before it raises rates, the inflation data currently give the members free hand to do so.
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