The trade deficit coming in a bit wider suggests growth is going to be a lot slower. It throws more support on the notion that there is more uncertainty in the short run. But that's premature speculation.

Mortgage rates will put a little bit of a brake on housing activity, ... but it may come precisely as other sectors start to turn around.

On the price deflator the numbers are a little bit stronger, so I am not as excited about that price number for GDP.

What it tells us is that we may see a bit of an easing off of economic growth or momentum. But even though the trajectory of growth may, in fact, ease a bit in 2006, I think the expansion remains intact.

Even though the gains this month are in fact indicative of a sustainable economic expansion, the magnitude of the gain was a bit exaggerated.

It's going to make the markets a bit jittery, especially when the market is conditioned to be data-dependent.

As the equity markets react positively to this change, we get a bit of a positive wealth effect which in turn should induce higher consumer spending.

People are, in fact, a little bit nervous.... People have realized there is a little bit of risk in the equity market.