112 Quotes by Bill Cheney

Looking forward, we have Katrina and the price of oil to worry about. I think the odds are still against it, but Hurricane Katrina could prove to be the exogenous shock that we've feared could dramatically slow or even derail the expansion.

Looking ahead beyond the current gloom, there is a serious risk that we already have inflationary forces baked into the system. By late spring, the Fed could be cranking up interest rates even faster than they cut them.

It fits in with the picture that the labor market is turned, inflation has turned and in a few more months they'll be tightening.

Most of the really alarming data has related to the manufacturing sector, which clearly is slumping. But since it only accounts for about 15 percent of total employment, it isn't dragging everything else down.

The advance GDP report is a funny animal. It's a combination of data that's already out there combined with official guesses. There isn't a lot of real new news.

While we're still skating on the edge of recession, I think the outlook for the economy is now quite encouraging. We may not feel great right now, but if a recession is a nasty case of the flu, the good news is that all we're suffering now is just a really bad cold.

With the U.S. slowdown looking more real each day, the trade deficit may have passed its peak. The slowdown hadn't hit full force yet in October. U.S. consumers are still sucking in massive amounts of imports. The slowdown will be more clearly seen in November and December's figures. If imported goods start to pile up on retailers' shelves this holiday season, imports could drop off fast.

With the tide turning on job growth, consumer sentiment going into the holidays is far better than last year, even if it's not quite happy days are here again.

Today's rate cut was no surprise. Even the half-point cut was more or less expected. In fact, the economy is still weak enough for the Fed to feel free to keep easing.