10 Quotes by Edward McKelvey

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.

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

The data suggest the pace of unemployment's rise is lessening. They don't tell you you'll get a turnaround, but they're encouraging.

The data suggest the pace of unemployment's rise is lessening, ... They don't tell you you'll get a turnaround, but they're encouraging.

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

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

It would be minimal. In a broad perspective, we shouldn't really be looking for a tremendous slowdown.

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.

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