Manufacturing is still mired in a deep recession. Although vehicle production has stepped up to try to maintain a low-cost financing induced sales explosion, the rest of the industrial sector is hurting badly.
More Quotes from Steven Wood:
Labor markets are weak and getting weaker.Steven Wood
The January gain in construction spending was surprisingly weak given the recent strength in housing starts and unseasonably warm weather.
Steven Wood
The recent movements in the index suggest only moderate economic growth over the next 6 to 9 months.
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
With the next FOMC meeting only another week away, it is unlikely any of them will tip their hands regarding monetary policy,
Steven Wood
What they did imply was that future Fed actions will become even more data dependent, Further tightening cannot be ruled out.
Steven Wood
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