There is no question that the deficit this year will be worse than last year. A number of the improvements in May were temporary.
More Quotes from Nariman Behravesh:
The Fed can take comfort in the fact that core inflation remains tame, despite some modest inflationary pressures - gradually rising wage inflation, tighter capacity constraints and higher oil prices.Nariman Behravesh
The main thing is cost-savings which radiate out in the form of lower prices for high-tech goods, and higher profit margins for the companies,
Nariman Behravesh
This is bad news, but it's old news, I fully expect the economy to bounce back strongly in the first quarter.
Nariman Behravesh
Of that 8.9 percent, maybe a third of it was weather-related. The rest of it is underlying trend of weakness in the housing market. You are seeing pervasive signs of weakness.
Nariman Behravesh
The good news for the U.S. is that growth has diversified. We aren't just relying on the consumer and housing.
Nariman Behravesh
The Fed has been singularly unsuccessful in cooling down the hot U.S. housing market, primarily because its rate hikes have had little impact on long-term interest rates so far,
Nariman Behravesh
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