Maury Harris Quotes

You typically see a rebound in the labor force when the economy starts to recover. But because businesses are operating so much more efficiently, there's a limit to the number of jobs available. Unemployment could still go up a few ticks. - Maury Harris

With consumption accounting for about 70 percent of GDP, the extra strength should add about 0.7 point to total GDP growth. - Maury Harris

What we do know is that the system manages to work -- we've been dealing with import penetration in this country for over three decades. Over that period of time, the unemployment rate has had its ups and downs, but there's been no trend increase in unemployment. - Maury Harris

We believe that the Fed will require both consistent solid hiring and a rise in inflation before it begins to lift rates. - Maury Harris

We are seeing a 'soft landing' rather than a 'hard landing' in consumer spending for a couple of reasons. First, although job growth is slowing, wages are still rising, with average hourly earnings up 0.4% in October. Second, despite recent stock market turmoil, consumer spirits are holding up reasonably well. - Maury Harris

Today's FOMC statement did not add any new specificity or much elaboration, and the initial reaction in the bond market has been limited. - Maury Harris

Through the volatility, the trend in claims is gradually downward again, consistent with the labor market slowly starting to regain momentum after a setback in late 2002. - Maury Harris

This puts upside risks in our forecast for 4.5-percent [annualized] fourth-quarter growth. - Maury Harris

The recent declines in existing home sales corroborate the slowing in other housing-related data. We expect additional slowing in the housing market, including prices, in 2006. In turn, the cooling will probably result in a moderation in overall growth. - Maury Harris

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