Quotes from the news wire:
Lawmakers should put an end to the wrangling over the debt limit and increase it with no strings attached so future generations can enjoy the same benefits.
Found on CNN 1 year ago
A default would be a catastrophic blow to the already fragile economy, the timing couldn’t be worse for the economy, as even before the specter of a debt limit breach many CEOs and economists believe a recession is likely this year.
Found on CNN 1 year ago
Supercore inflation is still way too hot, but it has begun to cool off, and all signs point to it and overall inflation getting back to something more comfortable over the coming 12-18 months.
Found on CNN 1 year ago
Supercore inflation was a strong 6.4% on a year-over-year basis through December 2022, but it is moderating.
Found on CNN 1 year ago
The Fed focuses on supercore because it includes those prices that are more likely to be driven by the cost of labor, which the Fed can more directly impact through changes in interest rates, supercore inflation is still way too hot, but it has begun to cool off, and all signs point to it and overall inflation getting back to something more comfortable over the coming 12-18 months.
Found on CNN 1 year ago
People have been put through the wringer these last two years, the sentiment is consistent with a very nervous consumer.
Found on CNN 2 years ago
I think people's perceptions are clearly colored by the prism they're looking through, the political environment is badly polarized, and that's reflected in how people think about things.
Found on CNN 2 years ago
In most times, sentiment reflects the economy. It doesn't create it -- except at turning points, if people get pessimistic, we'll go into a recession. If people maintain optimism, then the economy will probably have a soft landing -- but it makes for a very unstable situation.
Found on CNN 2 years ago
I'm not Mark Zandi. You want people to drive less and use less gas. This works against that objective, it's not well-targeted.
Found on CNN 2 years ago
The causality is running from inflation to wages, not from wages to inflation.
Found on CNN 2 years ago
I think they've got a fighting chance to land the economic plane on the tarmac without crashing it, we need a little bit of luck on the pandemic and on the fallout of the Russian invasion.
Found on CNN 2 years ago
You can not simply remove major wheat production, major food oil production, major fertilizer production, major oil production, major natural gas production, major production of [ semiconductor ] chips used in automobiles and think you're not going to get inflation, when it gets presented in the American news, you get this idea that if our stimulus checks had been lower, and if our wages had gone lower, that we wouldn't have this inflation. Nobody in the world accepts that as the viewpoint.
Found on CNN 2 years ago
From a 30,000-foot level, if you're looking at it from down on high, I expect a recession -- if we have one -- would be six months, nine months, something like that, unemployment would rise from 3.6 % to 5.5 %, 6 %, something like that. Not good, but you know, in the grand scheme of things, kind of more typical, comparable to other recessions we've experienced in the past.
Found on CNN 2 years ago
I think people will economize on their driving only so much, the hit will be to other forms of discretionary spending.
Found on CNN 2 years ago
The excess saving has been enough to cushion the impact of declining real wages on spending, even for lower-income households, american households are for the most part in a good financial place.
Found on CNN 2 years ago
The harder the Federal Reserve Bank of Philadelphia steps on the brakes, the higher the probability the car seizes up and the economy goes into recession.
Found on CNN 2 years ago
The harder the Fed steps on the brakes, the higher the probability the car seizes up and the economy goes into recession.
Found on CNN 2 years ago
The options are pretty limited, there are things on the margin, releasing oil from the petroleum reserve, jawboning meat packers on prices. But they won't have much impact on inflation.
Found on CNN 2 years ago
Give people the choice between losing their jobs or paying more at the pump, people will take higher gas prices, you could kill the economy to get demand down, but you end up with a dead economy. It doesn't make much sense.
Found on CNN 2 years ago
Maybe on the margin it adds a bit to inflation next year, the year after, maybe on the margin it reduces inflation in the longer run, but taking a step back it does not have a meaningful impact on inflation.
Found on CNN 3 years ago
It will lift long-term economic growth and by so doing, all else being equal, will take the edge off of inflation long run, but again that's pretty small potatoes, because it's very much on the margin and a lot of the programs expire, so they would presumably have no effect later in the decade.
Found on CNN 3 years ago
The financial pressure to go back to work will be overwhelming.
Found on Reuters 3 years ago
I think it's entirely plausible, a lot of those jobs aren't being filled because people are struggling with Covid.
Found on CNN 3 years ago
A lot of those jobs aren't being filled because people are struggling with Covid, long Covid is increasingly a significant headwind to the labor market, for businesses to get operations up and running, and, ultimately, for the broader economy to kick into high gear.
Found on CNN 3 years ago
If we see a large number of companies not open back up and office towers remain dark, that would be a blow to the surrounding communities.
Found on CNN 3 years ago
As long as it's raging, other variants could develop, the next one could elude our vaccine, and that could derail the recovery.
Found on CNN 3 years ago
There's no upside to any of this, the question is how serious the economic downside is.
Found on CNN 3 years ago
Businesses that slashed prices during the height of the pandemic, such as hotels, airlines, rental car companies, etc. are simply raising prices back to where they were pre-pandemic.
Found on CNN 3 years ago
Federal Reserve gets more complicated, landing the plane would become more difficult because the fog is thicker.
Found on CNN 3 years ago
But labor supply will be a longer run issue, just like before the pandemic, there are reasons to believe it will be a bigger problem post-pandemic because immigration is a shadow of what it was.
Found on CNN 3 years ago
I've never seen an economy that feels as good as this one today, the economy is booming. It's busting out all over.
Found on CNN 3 years ago
The K is turning into a V -- very rapidly, we were in this deep, dark hole a year ago, but now we can clearly see getting out of it, and getting out quickly.
Found on CNN 3 years ago
They’re going to keep their foot on the accelerator even beyond the time when we’re at full employment.
Found on Reuters 3 years ago
This is a very large package, but it's about helping the economy hang together as well as it can hang together until the end of the pandemic.
Found on CNN 3 years ago
The rules of the game keep changing. For a business person, that is overwhelming, they're not going to feel like the coast is clear. That uncertainty will depress ability to go out and expand and grow. They're not going to go out and hire more people because they're not sure what lays ahead in the future. This is going to be a process. I don't think it's like a light switch going on.
Found on CNN 3 years ago
We get a lot growth in GDP up front, but it'll take 18-24 months to get all those jobs back, a lot of people just can't go back to work until the pandemic is in the rearview mirror.
Found on CNN 3 years ago
Lawmakers have to complete the bridge they started building at the beginning of the pandemic to get us to the end of the pandemic when people will feel comfortable going to restaurants and ballgames.
Found on CNN 4 years ago
The vaccine is great. It makes everyone feel better. But at the end of the day, the pandemic is as bad as it's ever been, we still have a lot of unemployed people, small businesses struggling to survive, airlines running on fumes.
Found on CNN 4 years ago
Getting from 60 % to 80 % is going to be a lot easier than getting back to 100 % — now the hard work begins.
Found on CNN 4 years ago
The more businesses that fail, the longer it will before we get back to normal.
Found on CNN 4 years ago
I think it's pretty clear the Back-to-Normal Index indicates this is not a V-shaped recovery, six months in, we're still a long, long way from getting back to normal.
Found on CNN 4 years ago
It's clear that the pandemic is doing some fundamental damage to the job market, a lot of the jobs lost aren't coming back any time soon. The idea that The American economy is going to snap back to where The American economy was before the pandemic is clearly not going to happen.
Found on CNN 4 years ago
I've always viewed it as very serious. There was no difference yesterday from days before. I feel the tone is similar, but some people said it wasn't.
Found on CNN 4 years ago
Last week it was all about stopping hiring. This coming week it will be about laying off workers.
Found on CNN 4 years ago
I think large companies are going to be slower to lay off. They are going to try to get through this, but a lot of these small businesses don't have the cash to weather the storm. It's not obvious to me how we help them. It's tough for the government to try to get cash and credit to small businesses.
Found on CNN 4 years ago
People are going to be buying less of everything. The stock market is down and wiping out people's nest eggs, they're worried' Am I going to get sick ? Are my parents going to get sick ?' That's a prescription for people going into the bunker and for job losses.
Found on CNN 4 years ago
This is gone, lost forever, it's not like you'll hold two conferences in the fall if the one this spring is canceled.
Found on CNN 4 years ago
It's on the front line of the fallout, it's the most directly and immediately impacted.
Found on CNN 4 years ago
The American consumer really is the firewall between an expanding economy and a recession.
Found on Reuters 4 years ago
There will be more avoidance and IRS enforcement may not be up to the task.
Found on Reuters 5 years ago
I am not a fan of Medicare for All, we have 160 million people who have private insurance and are pretty happy with what they have. Why change that?
Found on Reuters 5 years ago
It's not hard to believe billionaires are going to use every resource to avoid paying the tax.
Found on Reuters 5 years ago
I'm skeptical the wealth tax will generate the same amount of revenue after considering all her plans together.
Found on Reuters 5 years ago
President Trump trade war is doing significant damage to the US and global economies, the higher tariffs act like a tax increase on businesses and their customers.
Found on CNN 5 years ago
They are generally lower paying jobs. But they're very important to a very vulnerable group within the economy.
Found on CNN 5 years ago
It employs so many people in every community, if consumers pull back and store closings mount, no other sector of the economy will be able to pick up that slack.
Found on CNN 5 years ago
A lot of retailers are hanging on because the broader economic environment is strong, interest rates are low, credit is available, no sector is more dependent on credit. If a recession comes, credit will get cut off both to the consumers and the retailers. That is going to mean a rash of bankruptcies and a lot of lost jobs.
Found on CNN 5 years ago
Brick-and-mortar retailers are already in recession, they've been laying off workers coming up on three years. And this is a time when consumers are out spending aggressively. If the broader economy is in recession, there is going to be blood in the streets.
Found on CNN 5 years ago
This highlights why it's so important to have a strong economy because it helps those that really have struggled for many decades.
Found on Reuters 5 years ago
The consumer drives the economic train, if American households are out spending, the economy will remain intact. We'll avoid a recession. But if American households waver in their spending, it's game over -- we're in a recession.
Found on CNN 5 years ago
Huawei is very iconic to the Chinese, kind of like Apple to us, so putting them on the entity list is a real slap in the face and threatens to take the trade war from economics to war over nationalistic pride, it makes it very difficult to stand down.
Found on CNN 5 years ago
We're in the boom. And all the earmarks of a bust are developing.
Found on CNN 6 years ago
Gasoline is still being poured on the economy, the real day of reckoning will come early next decade, around 2020.
Found on CNN 6 years ago
It's been cheaper for companies to expand by hiring people rather than investing.
Found on Reuters 9 years ago
My working assumption is that the Chinese are going to be able to gracefully manage their slowdown. But if they stumble too much, that'll make it more difficult for the global economy to kick into a higher gear for sure, including the U.S. economy.
Found on Reuters 9 years ago
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