Ethan Harris Quotes


29 Ethan Harris quotes:



"The national economy usually weathers these storms with relatively minor damage. Second, the hurricane is a 'supply shock' -- a disruption to productive potential -- not a 'demand shock.' The same factors that threaten growth -- higher commodity prices, shipping bottlenecks, reduced local productive capacity -- also threaten inflation."
"The markets have forgotten two lessons from prior natural disasters."
Author: Harris Quotes Category: Disaster Quotes
"You're going to see continued cost discipline. So when growth comes it won't be spent on things like wage increases, but will flow to the bottom line."
Author: Harris Quotes Category: Discipline Quotes
"Clearly the economy still has plenty of momentum with a little hint of inflation risk in the background."
"But the obvious effect is on utility consumption, which will affect industrial output in the economy. People consume more electricity, that places more demand on natural gas, coal, power, and electrical systems."
"The surplus creates an environment where there's a tremendous amount of saving being freed up for private investment every time the government pays down its debt, that frees funds to flow into private investments. That has created this strong growth economy that we have."
Author: Harris Quotes Category: Environment Quotes
"Firms have cut back on their capital spending budgets to the point where some of them are not even replacing worn-out equipment. It's been quite a dramatic pullback, and in some sense there's some pent-up demand out there for capital equipment."
Author: Harris Quotes Category: Budgets Quotes
"The main thing holding back the economy in the past year and a half has been a lack of business confidence, and now we're seeing these surveys with a fairly optimistic take on the economy. The non-manufacturing survey certainly reflects the general increase in confidence, and that's a self-fulfilling thing."
Author: Harris Quotes Category: Business Quotes
"They'll wait to see how Christmas shapes up, and if it's weak, they'll give another rate cut in January."
Author: Harris Quotes Category: Christmas Quotes
"The indicator that economists use to predict the housing market is the affordability index -- the ratio of monthly income to monthly mortgage payments, ... As the economy picks up, the typical family's monthly income will slowly accelerate, but the monthly mortgage cost is quickly jumping, much faster than income could possibly move."
Author: Harris Quotes Category: Income Quotes
"It's true there's been a shift of income distribution, with a lot of income gains accruing to upper income individuals. The labor market is paying a bigger and bigger premium for being well educated, ... At the other end of the distribution, if you look at Joe Six-Pack, you've seen a big decline in big paying, low skill jobs in manufacturing."
Author: Harris Quotes Category: Income Quotes
"The indicator that economists use to predict the housing market is the affordability index -- the ratio of monthly income to monthly mortgage payments. As the economy picks up, the typical family's monthly income will slowly accelerate, but the monthly mortgage cost is quickly jumping, much faster than income could possibly move."
Author: Harris Quotes Category: Income Quotes
"Ultimately, for the economic recovery to sustain itself, we have to see the labor market improve. As the tax-cut benefits fade, consumers will look for more fundamental reasons to spend money, and there will have to be some job growth."
Author: Harris Quotes Category: Labor Quotes
"Everyone is all zeroed in on the consumer now, but the truth is that the consumer isn't the driver now. Confidence is picking up, but still at average levels. Wage growth is slow and the bulk of the tax cut is already in place. Finally, with all the debt people have taken out over the past several years the burden of paying monthly bills is leaving less for discretionary spending."
Author: Harris Quotes Category: Truth Quotes
"Apparently the Fed's new policy of 'transparency' has taken the shock value out of monetary policy,"
Author: Harris Quotes Category: Value Quotes
"Apparently the Fed's new policy of 'transparency' has taken the shock value out of monetary policy."
Author: Harris Quotes Category: Value Quotes
"The number itself wasn't very surprising, ... (Federal Reserve Chairman Alan) Greenspan's comments last week that the trade gap might start getting smaller raised attention and some hopes. But I didn't agree with him about that."
Author: Harris Quotes Category: Trade Quotes
"This has been a fundamental problem with the Fed's whole approach to policy making, ... By changing their language so frequently, they make it impossible to figure out what they're doing."
Author: Harris Quotes Category: Language Quotes
"This has been a fundamental problem with the Fed's whole approach to policy making. By changing their language so frequently, they make it impossible to figure out what they're doing."
Author: Harris Quotes Category: Language Quotes
"They keep fiddling with the language, and the general tone of the directive keeps getting a little less dovish, ... Being 'patient' sounds a little less like they're keeping rates on hold than a 'considerable period' -- though you'd need to study a dictionary closely to figure that out."
Author: Harris Quotes Category: Language Quotes



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