Ian Shepherdson Pace Quotations

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,

Output will not immediately accelerate to the pace suggested by the orders numbers ... because companies are still aggressively running down inventory.

This is slightly baffling, given that existing home sales have been strengthening, ... It may be a reflection of caution on the part of builders, who have been reluctant to keep pace with sales because of fear the market strength will not last.

If real spending rises at this pace in February and March, consumer spending will rise just 2.3 percent for the quarter, the softest since Q2 1997,