Ed McKelvey Quotations

Whenever you have a collapse in a particular output price -- and we certainly saw a lot of that following Asia's decline -- it places a lot of pressure on companies to deal with keeping their revenues up. In that context consolidation isn't a big surprise.

Movements in the unemployment rate will tell Fed officials whether growth is absorbing unused capacity.

It defies common sense and lots of careful research to think that the highest-rated credit on the planet can borrow half a trillion dollars a year without pushing aside some private investment and ultimately hurting productivity growth.

The prospect for price improvement depends on the performance of the Asian and European economies, who are big users of metals, and the prospects are getting better. There's still a lot of uncertainty there, but relatively speaking the signs are fairly encouraging.

We see sturdy hiring as a factor that continues to support U.S. economic growth.

At the margin they reinforced our growing sense that Fed tightening might stop before the federal funds rate reaches the 5 percent level we are currently forecasting.

Fed officials do not want to risk overreaction by the markets. This would undermine financial conditions at a time when the Fed needs growth to stay above its potential rate.

Fed officials do not want to risk overreaction by the markets, ... This would undermine financial conditions at a time when the Fed needs growth to stay above its potential rate.

Seen in this light, ... the employee discount program was an enormously successful marketing coup.

For example, the lowest-wealth quartile has no net worth on balance, while the next quartile has controlled only about 3 percent of the total, and the top 10 percent have held about two- thirds. These figures have changed little over the past decade, a fact that attests to the difficulty that many households have in accumulating wealth.

It may just be that, in this slow-motion labor market that we have, a lot of younger people have opted for schooling that will take them out of the job market for a while,

It's debatable how much the dividend-tax elimination will stimulate the economy, particularly in the short run.

His answers to these questions will probably confirm that he, like most other economists, was born with two hands.

If home prices flatten out--and we are expecting that--it has a slowing effect on the economy.

The fiscal picture wasn't very good before and it's worse now.