The statement gives the Fed options either way.
If sentiment stays at this level -- it might even decline further -- you should expect a serious slowing in second quarter and third quarter consumption.
For now we are inclined to view this report as a fluke. It is too early to expect payrolls to weaken. But it supports the cause of a pause in rates in June unless more than 300,000 jobs are created in May.
It's pretty clear that people have been really rattled by it. The big question is how much of an impact has it had on spending?
The trend in the deficit has stabilized but it is not falling.
I know of no other such feature in America, and have only seen it a few times in the very greatest houses of Britain, notably [Robert] Adam's Kedleston,
I think Brad pitched very good. He felt a little more comfortable with his windup. He was a little freer. His fastball looked good and he had a nice slider. He just needs to get on a roll and get in a good groove.
(April 30, 1949 - )
Things turn out best for people who make the best out of the way things turn out