(Greenspan's) a proponent of what productivity gains have brought to this new economy, ... Of all the things he says, the least hawkish is when he talks about productivity and the new economy. In terms of Wall Street's reaction, I wouldn't say we could garner anything but a positive feeling.
But do they do well enough for a highly educated population? For a knowledge-based economy? The answer is no.
But from an economics or financial management perspective, you'd say of course you want to start looking out way beyond one year.
But beyond economic development, I want to change the feeling this community has about our government. It's sad and it must be changed. It saddens me that the people of this community feel the way they do about us. That is the first thing I would try to accomplish as mayor.
But as the FOMC minutes also indicated that that the US economy still needs additional rate hikes ahead, interest rate differentials will continue to support the greenback.
But a sour-loan solution remains elusive, the supplementary budget is unlikely to do much for the economy, and the future direction for Wall Street remains unclear.
Based on prior experience, consumers will travel by car this summer, as long as the economy remains strong. There may be some moves away from big vehicles, which we've already seen to some degree, but gasoline costs won't curtail travel.
Bay Area public services have not kept pace with demands of our economy and growing population. Freeways are jammed, commutes are longer, the power supply is vulnerable to a hot summer, and water systems could snap in a major earthquake. Well aware of this, business leaders can be optimistic that negotiations between the Governor and the Legislature on an infrastructure bond are focusing on what gets funded not if there's a need for funding.
Low marginal tax rates are supportive of economic growth. I would submit that we would want to look very hard at government spending - make sure it's controlled - before we raise taxes, which, in turn, would have negative impacts on the economy.
Losing the Saudi oil would immediately shock the U.S. economy to the worst level in decades,