60 Quotes by Steven Wieting

We continue to expect a long, successful business cycle expansion amid well-known challenges. However, visibility has been somewhat reduced, and the Fed is not fighting off increased market expectations of policy tightening.

We had unintentional inventory declines in the second and third quarters, which is what you would typically get in a recession. I think companies will need to build $50 billion per quarter in inventories, even if the demand growth rate is just 3.5 percent.

We're not at gas prices that pose some kind of a tipping point. There have been botched forecasts of a recession at every $10 move (higher) in crude oil futures.

We're not at gas prices that pose some kind of a tipping point.

Year-end financial markets can be difficult, and winter economic data is difficult to read. It makes more sense that December will be month they skip. You don't want to be raising rates into what can be an illiquid market.

We haven't had a single year of falling consumer spending since 1938. There's no boom or bust in consumer spending.

We're not expecting an entirely clean read for the durable goods report. The business confidence data began to bottom at the end of June and that's encouraging. We probably will see modest gains in consumer activity and eventually the business cycle will catch up to that. But so far, everything right now is pointing to frustrating moderate economic growth for the time being,

The reaction to this data in the past would have been much more positive. These days only bad news is carrying weight.

Today's data included well-known as well as surprise areas of weakness.