Given the condition of housing, Fed policy-makers will not panic if they see a low GDP growth rate in the fourth quarter.
More Quotes from Joel Naroff:
As usual, the headline number hides the true facts. Outside energy, there was little relief for the already burdened consumer.Joel Naroff
While wages didn't rise exceedingly rapidly, the low (jobless) rate is a warning that labor costs are probably going to increase further.
Joel Naroff
We need more jobs. It is accurate to say that job growth has returned, but it is not at an acceptable level, ... We need over 200,000 a month to feel good about the sustainability of the expansion. That may be coming, but it is not here yet.
Joel Naroff
We saw a slowdown in business investing and while it may be a little more than we will see going forward, it's real and it will likely continue.
Joel Naroff
Productivity will be stronger in the first quarter, but the trend is still toward moderating growth this year.
Joel Naroff
The huge increases at apparel and general merchandise stores are eye-opening. You would think people had nothing to do but get to the malls.
Joel Naroff
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Jonathan Swift
As soon as you go into any biological process in any real detail, you discover it's open-ended in terms of what needs to be found out about it.
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