The FOMC (Federal Open Market Committee, the Fed's policy-making arm) will look at these data as being benign, ... No change in interest rates is expected at next week's meeting although the committee will retain its bias toward tightening.
More Quotes from Steven Wood:
Housing activity, which has contributed significantly to economic growth over the past 2-12 years, has now passed its peak and will be largely neutral to negative over the next several quarters, ... This slowdown will be welcomed at the Federal Reserve.Steven Wood
The general slowing in the growth of the leading indicators over the past year suggests the pace of economic growth should gradually slow over the next three to six to nine months.
Steven Wood
These data continue to show that the housing market remains resilient in the face of rising interest rates. This resiliency will make it more difficult for the (Federal Open Market Committee) to slow the economy,
Steven Wood
Housing-related activity has definitely slowed and its contributions to economic growth, both direct and indirect, will fade over the next couple of quarters.
Steven Wood
The numbers are clearly good news for the Fed, ... Strong productivity numbers raise the economy's speed limit and dampen inflationary pressures, lessening the magnitude of the rate increases that the Fed would have to implement. The key question, however, is what level of productivity growth is reasonable to assume for the future.
Steven Wood
Wholesalers had been struggling with bulging inventories through the winter and spring, ... However, plunging sales had largely thwarted their efforts. July's improvement is a welcome respite in this struggle.
Steven Wood
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Based on Topics: Committees QuotesBased on Keywords: policy-making
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