Patrick Fearon Trend Quotations

Spending was up, a little weaker than expected... Nevertheless, the trend has been upward and it looks like the consumer is still in the ballgame in terms of supporting economic growth.

Whether you look at the core personal consumption expenditure index on a monthly basis or a year over year basis, the inflation trend is basically 'steady Eddie.

The fact that (core inflation) has been on a downward trend for two months is more evidence that Fed policy-makers might stop raising interest rates sooner rather than later.

The trend in general for the last several months has been in this ballpark, with initial claims being really pretty low compared with the size of the workforce and the size of the economy. So for some time, jobless claims have been and indicator that the labor market remains healthy and March payrolls probably will remain pretty healthy as well.

It looks like warm weather had a big impact so the big jump in January housing starts can be attributed to that. However, the moderating trend in housing really is still in place.