Steven Wieting Quotes

Years from now, new benchmark revisions will come along and change the whole picture again -- which begs the question of how important these monthly payroll changes are. I think it's irresponsible to make too much of these reports. - Steven Wieting

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. - Steven Wieting

While we don't take monthly changes in employment too seriously, today's data were slightly stronger than expected on hiring, but slightly weaker on hours and utilization, thus providing a 'growth positive' outlook. - Steven Wieting

While the U.S. economy is still transitioning, and will for some time, data that should be supporting confidence in the recovery have not worked to ease investor concerns... We have to wonder if markets won't derail an otherwise quite healthy recovery in much of the core of the U.S. economy. - Steven Wieting

Whether the Fed goes 25 or 50 basis points next week might mean something for managing market psychology, but it doesn't mean nearly as much for the broader economy. Their language regarding their future considerations on rates is what should matter. - Steven Wieting

What's most important is that we've got demand and supply moving ahead fast enough that we're absorbing and creating jobs month in and month out -- that's not something to lament. - Steven Wieting

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. - Steven Wieting

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. - Steven Wieting

We're getting higher and higher oil prices each day and you'll continue to see a larger drag on the economy through the summer months. - Steven Wieting

We saw a lot of healing going on in 2002, and nobody gives any credit to it. - Steven Wieting

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