177 Quotes by Steven Wood

The FOMC (Federal Open Market Committee, the Fed's policy-making arm) will look at these data as being benign, ... No change in interest rates is expected at next week's meeting although the committee will retain its bias toward tightening.

With last week's Fed tightening, mortgage rates have continued to rise, so that further declines in housing activity are likely over the balance of the year. Nevertheless, robust labor markets and rising incomes have helped sustain housing at a relatively high level.

The general slowing in the growth of the leading indicators over the past year suggests the pace of economic growth should gradually slow over the next three to six to nine months.

Consumers still remain optimistic about the future despite having some concerns about the present. This is very typical of a business cycle turning point,

The gentle slowing trend that had been in place for much of 2005 appears to have been halted and partially reversed. However, like many other economic relationships, the one between the index of leading indicators and subsequent economic growth has loosened significantly in recent years.

Even as the pace of layoffs has ebbed, no new hiring is taking place, so continuing claims will rise even further and surpass their peak in the last recession. Labor market deterioration is continuing with no end in sight.

The economy is in recession. The manufacturing recession began more than a year ago. The non-manufacturing recession began more recently. But the contraction has begun.

The Committee is placing more weight on current data releases and, therefore, less weight on forecasts of economic activity and inflation. What I'm foreseeing is that the Fed is going to keep on tightening due to the economy being stronger in the first half of the year.

The trade figures are distorted by the effects of foreign re-insurance on the World Trade Center. Nevertheless, international trade is contracting.