Many of the understandable sources of recovery have been expended in the first half of 2002, leaving growth drivers into 2003 a mystery.
More Quotes from Steven Wieting:
Beneath the surface, production and inventory, here and abroad, are moving up faster than the rate of demand growth,Steven Wieting
The fact that we can lower living costs at a time when output and income are recovering should be considered fantastic news.
Steven Wieting
If you look at labor demand, you should be getting a decent trend. It was only June data that fell below that trend.
Steven Wieting
This gain in proprietors' income is small-business job creation, we think, and it's more useful at this point in the business cycle than it would otherwise be,
Steven Wieting
Year-end financial markets can be difficult, and winter economic data is difficult to read, ... It makes more sense that December will be month they skip. You don't want to be raising rates into what can be an illiquid market.
Steven Wieting
What's most important is that we've got demand and supply moving ahead fast enough that we're absorbing and creating jobs month in and month out -- that's not something to lament.
Steven Wieting
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