Yesterday there was a little bit of a fear that maybe the housing market is not slowing down much and that the Fed has to do a little bit more, and today it takes some of that fear back out. They are really close to being done.
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There is no operating manual that says what a neutral fed funds rate is, but the Fed knows that it's higher than 3 percent,Mark Vitner
Inflation at the end of the day is headed higher, it's just not going to happen that dramatically this year.
Mark Vitner
The populations in Louisiana and Mississippi are incredibly poor. Most of the damage was from flooding, which doesn't tend to be covered by insurance. That combination adds up to an incredibly long and painful rebuilding process I think five to 10 years.
Mark Vitner
Coming on the heels of stronger reports on retail sales and durable-goods orders, as well as a sharp drop in first-time claims for unemployment, this ... drop in consumer confidence was a cold slap in the face to all of those economists, including ourselves, that are looking for a second-half rebound.
Mark Vitner
While it seems counterintuitive, higher gasoline prices are actually helping restrain core inflation, ... With more money being spent for gasoline, consumers have fewer dollars left for discretionary purchases. The net result is that firms are slashing prices on everything from cars to beer in order to move product.
Mark Vitner
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