Higher claims suggest slower job gains, which should dampen income growth, consumer spending, and overall economic activity.
More Quotes from Steven Wood:
Inflation is sufficiently low and tame -- and the economic outlook is sufficiently uncertain -- to be of little concern to the Fed at present.Steven Wood
While these data will be welcome by the (Fed), two key questions remain. Will the second quarter spending slow down extend through the rest of the year Economic fundamentals suggest they will. And will the spending slowdown be sufficient to relieve pressure on labor markets and inflation At this point, that is still an open question.
Steven Wood
As long as average job creation remains around or exceeds 200,000 and the unemployment rate continues to decline, the FOMC will continue to raise interest rates.
Steven Wood
Higher interest rates have been weathered by home buyers through the use of adept home financing techniques. Nevertheless, the resilience in the housing sector will support further monetary tightening by the Fed.
Steven Wood
While a portion of this strength is due to unseasonably mild winter weather, it is obvious that higher interest rates are, so far, having little dampening impact on construction.
Steven Wood
The recent pace of growth in the leaders suggests that economic growth should slow from its 3.6 percent over the four quarters through the third quarter of 2005.
Steven Wood
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God... a being whose only definition is that he is beyond man's power to conceive.
Ayn Rand