Joshua Shapiro Growth Quotations

I don't think we're talking about a recession or a near recession. I think we're talking about growth that is slower than people expected.

We continue to expect the Fed funds target to reach 5 percent in the second quarter of next year, which is where we see the tightening process ending. Comments from Fed officials suggest that they expect only a temporary hit to growth from higher energy prices, while concern about a drift up in core inflation is increasing.

We would not jump to any conclusions based on these numbers, particularly as the weekly jobless claims figures, adjusted for hurricane effects, point to considerably stronger job growth than reported.

Export growth will remain solid in the months immediately ahead, which ought to help blunt (but not fully offset) the detrimental effect on the trade deficit of a likely acceleration in import growth.

The strength in manufacturing is increasingly tied to strong demand for exports as well as reasonably good domestic demand. Other economies are doing well and we've still got reasonably good economic growth and inventory rebuilding in the U.S.

A softening trend for consumer spending is the most likely outcome for most of this year, particularly as housing cools off. However, we do not think that consumer spending growth is going to fall apart anytime soon.

Economic growth in the autumn and winter is likely to be soft, ... and there is going to be heightened pressure on companies to try to pass through some of their higher costs into finished goods prices.

The Fed isn't going to get exited about inflation in the labor market. At this stage they are focusing on core inflation at the consumer level and growth. Certainly, the news lately on the growth side has been quite good.

The Fed tipped its hat to the fact that growth has slowed a bit, and blamed it on energy prices,