In that context, he will lose credibility if he under-appreciates the extent to which (economic) growth is already weakening in response to earlier rate hikes.
More Quotes from Maury Harris:
You typically see a rebound in the labor force when the economy starts to recover. But because businesses are operating so much more efficiently, there's a limit to the number of jobs available. Unemployment could still go up a few ticks.Maury Harris
Difficulties of seasonally adjusting the retail sector around year-end suggest that the two-month average -- about flat -- is a more reliable gauge of hiring trends.
Maury Harris
With consumption accounting for about 70 percent of GDP, the extra strength should add about 0.7 point to total GDP growth.
Maury Harris
The bond market has been moving on two things today the movement of stocks and this speculation about the yuan.
Maury Harris
Price pressures appear to be building at crude PPI levels, but the Fed will likely wait to respond until these pressures filter into the consumer price index. We do not expect that to occur until next year.
Maury Harris
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