Edward McKelvey Quotes (8 Quotes)

This is a confirmation that weather probably was a factor holding up activity in November, but underneath the surface, the setback in December isn't even what it looks like. What I'm calling attention to specifically is the fact that single-family starts actually rose about 3.6 percent, while all the setback was in multi-family units.

Is the market concerned about it Yes. Is it a significant concern I doubt it.

In our view, the financial markets are much too complacent about what a decision to keep tightening means at this juncture.

Trade is a drag (on growth) and that tends to hit manufacturing harder than the rest of the economy.

If under these circumstances the F.O.M.C. is prepared to keep going, then this means that the committee is more worried about the longer-term risk of higher inflation than the shorter-term risk of a collapse in growth.

We had expected an upward revision in the second-quarter G.D.P. estimate on the basis of other recently released data, ... but trade kind of goes in the opposite direction.

The easing the Fed has already done has had a focused and limited effect, mainly on sales of homes and automobiles. It's not clear another rate cut will have much effect. I think fiscal easing is more effective at this point it more directly puts money in people's pocketbooks.

The really surprising thing is the lack of inflation given this kind of growth.