Ian Shepherdson Quotes

The revisions are not as big as we feared... The new April number shows sales at their lowest level since November, but the previous four months were exceptionally strong, in part due to favorable weather. Given the strong trend in mortgage applications, these data likely do not signal real housing weakness.

- Ian Shepherdson

Tags

Revisions | Feared | April | Number | Shows |

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There is a specific reference in February to 'the pace of policy moves at upcoming meetings ... would depend on incoming data', suggesting a degree of potential flexibility that was absent from the December minutes. - Ian Shepherdson

Clearly, this report looks awful, but it does not presage any change in the underlying inflation environment... PPI is not driving Fed policy. - Ian Shepherdson

As far as we can tell, just about everyone now expects another 25-basis-point hike on May 16, which rather begs the question why the Fed did not act more boldly today and raise rates by 50 basis points... By the time of the May meeting, a bigger move might be forced upon the FOMC. - Ian Shepherdson