Paul Anthony Ashworthis a former English footballer and assistant manager who is currently working as Head Coach at FK Ventspils in Latvia... (wikipedia)
This will no doubt give protectionists in Congress some ammunition as the mid term elections approach.
Since the order books at Boeing are bulging at the moment, with many of those orders coming from abroad, aircraft exports could continue to be a big positive for the trade deficit for some time to come.
He has been careful to address all possible concerns about his leadership in Congress, in financial markets and among his Fed colleagues.
It is not clear exactly why confidence is falling but it may have been dented by concerns over the cooling housing market. The contrast between the buoyancy of current economic conditions and caution over the future is now the sharpest since 9/11.
Such a rapid escalation in prices is sure to hit confidence and real spending hard.
While the drop in gasoline prices makes these sales figures look bad, it is of course good news for spending in real terms, which is what really counts.
Today's inflation figures will reinforce the belief that the Fed only has one or two more interest-rate hikes up its sleeve before it rests. The lack of any significant upward pressure on inflation should help persuade the Fed to raise rates no higher than 5 percent.
We previously feared growth could dip below 2 percent.
The wider impact of Hurricane Katrina on the national economy is now becoming evident and none of it is pretty.
The slowdown in the pace of job creation
As far as the Fed is concerned, payrolls growth is probably just about right -- not too hot and not too cold.
The bottom line is that a current account deficit of this unparalleled magnitude is unsustainable and there is no hope of it being resolved painlessly through higher exports alone. Instead it will require a big dollar depreciation alongside much weaker domestic demand for imports.
I do not expect core inflation to rise much above these levels. But were it to do so, this would seal the case for more rate rises.
This is all a bit of a puzzle, ... It will depend obviously on how quickly these areas can be repopulated, and also you've got the positive of reconstruction spending and the fact that that will create jobs.
The only uncertainty surrounding the decision is the wording of the accompanying statement and, in particular, whether the assessment that 'some further policy firming may be needed to keep the risks ... roughly in balance' will be dropped.
It is quite sensible for them to sit back and see where they are.
The jump in import prices will fan the new-found fears of inflation in the markets and at the Fed.
This is all a bit of a puzzle. It will depend obviously on how quickly these areas can be repopulated, and also you've got the positive of reconstruction spending and the fact that that will create jobs.
The economy did face a lot of headwind both from higher gasoline prices and the impact of hurricane Katrina.