21 Quotes by John Shin

The data are consistent with very gradual cooling in the housing market.

This will get people thinking a little bit more about the inflation risks the Fed has been talking about.

When you look at the details on the positive revision, it's a fairly robust figure. The consumer is continuing to drive a lot of the growth that we're expecting in the first quarter.

There is still significantly stronger growth in the U.S. relative to the rest of the world. That's been the dominant factor in terms of continued large trade deficits and that's not going to change much this year.

There will be some bigger fears about whether the bill for years and years of trade deficits is finally coming due. The outlook is for continued, big current-account deficits.

This is stronger than expected, the highest since spring of last year. But it's less important since it doesn't show anything about the impact of Katrina and everyone's focused on Katrina right now.

This doesn't do anything to change the expectation for payrolls tomorrow, even though it is eye-catching that claims fell below 300,000.

It really does reflect the enormous amount of coverage of the Katrina disaster.

It's pretty funny how quickly sentiment can swing, but I think it's too soon for the Fed to pause (in raising rates). This morning's number keeps the Fed on track continuing 25 basis points (quarter-point) hikes.