Both current conditions and expectations remain above their wartime lows, but the reversal of previous gains undercuts the notion that the slowdown early this year owed only to geopolitical concerns. Consumers are clearly troubled by the absence of new hiring, and worry about income prospects. - Maury Harris Quotes
Both current conditions and expectations remain above their wartime lows, but the reversal of previous gains undercuts the notion that the slowdown early this year owed only to geopolitical concerns. Consumers are clearly troubled by the absence of new hiring, and worry about income prospects. Maury Harris
 

More - Maury Harris Quotes

Net net, we think the risks are tilted toward a surprisingly strong gain in [Friday's] report. - Maury Harris Quotes

Net net, we think the risks are tilted toward a surprisingly strong gain in [Friday's] report.

Maury Harris

 Gain
In that context, he will lose credibility if he under-appreciates the extent to which (economic) growth is already weakening in response to earlier rate hikes. - Maury Harris Quotes

In that context, he will lose credibility if he under-appreciates the extent to which (economic) growth is already weakening in response to earlier rate hikes.

Maury Harris

 Credibility
We now estimate that total real consumption rose at a 6.5-percent annual rate in the third quarter as a whole, above the 5.5 percent we assumed when we raised our estimate for total real GDP growth to 5.5 percent from 4.5 percent. - Maury Harris Quotes

We now estimate that total real consumption rose at a 6.5-percent annual rate in the third quarter as a whole, above the 5.5 percent we assumed when we raised our estimate for total real GDP growth to 5.5 percent from 4.5 percent.

Maury Harris

 
Today's FOMC statement did not add any new specificity or much elaboration, and the initial reaction in the bond market has been limited. - Maury Harris Quotes

Today's FOMC statement did not add any new specificity or much elaboration, and the initial reaction in the bond market has been limited.

Maury Harris

 
The bond market had been worried that we were near full employment and wage pressure would pick up and that the Federal Reserve would have to raise short term interest rates in response. But now that the all important employment cost index was up just 0.6 percent, the Fed doesn't need to raise short term rates because the economy is slowing down. - Maury Harris Quotes

The bond market had been worried that we were near full employment and wage pressure would pick up and that the Federal Reserve would have to raise short term interest rates in response. But now that the all important employment cost index was up just 0.6 percent, the Fed doesn't need to raise short term rates because the economy is slowing down.

Maury Harris

 
Difficulties of seasonally adjusting the retail sector around year-end suggest that the two-month average -- about flat -- is a more reliable gauge of hiring trends. - Maury Harris Quotes

Difficulties of seasonally adjusting the retail sector around year-end suggest that the two-month average -- about flat -- is a more reliable gauge of hiring trends.

Maury Harris

 
Certainly, there was nothing in Mr. Greenspan's testimony to suggest he has seen any strong preliminary data from the April employment report. - Maury Harris Quotes

Certainly, there was nothing in Mr. Greenspan's testimony to suggest he has seen any strong preliminary data from the April employment report.

Maury Harris

 
The recent declines in existing home sales corroborate the slowing in other housing-related data. We expect additional slowing in the housing market, including prices, in 2006. In turn, the cooling will probably result in a moderation in overall growth. - Maury Harris Quotes

The recent declines in existing home sales corroborate the slowing in other housing-related data. We expect additional slowing in the housing market, including prices, in 2006. In turn, the cooling will probably result in a moderation in overall growth.

Maury Harris

 Home
It remains unclear, of course, what role economic data really are playing in markets just now. Despite evidence that the recovery continues both in the U.S. and abroad, equity markets continue to struggle. - Maury Harris Quotes

It remains unclear, of course, what role economic data really are playing in markets just now. Despite evidence that the recovery continues both in the U.S. and abroad, equity markets continue to struggle.

Maury Harris

 
The implication is that raw winter weather may have depressed starts last month, particularly late in the month. Even so, starts remained above the 2003 average [of] 1.85 million [units]. - Maury Harris Quotes

The implication is that raw winter weather may have depressed starts last month, particularly late in the month. Even so, starts remained above the 2003 average [of] 1.85 million [units].

Maury Harris

 
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