Millan Mulraine

We can learn a lot about a person if we know what types of things he or she talks about or comments on the most frequently. There are numerous topics with which Millan Mulraine is associated, including Fed and U.S.. Most recently, Millan Mulraine has been quoted saying: “A very rosy picture is beginning to emerge on the housing market, pointing to sustained buoyancy in the sector's recovery, which remains one of the few bright spots for the U.S. economy.” in the article U.S. new home sales race to near nine-year high. An other article where Millan Mulraine has been quoted is U.S. inflation tame despite economy gaining momentum.

Millan Mulraine quotes

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This will likely be interpreted as more evidence that the U.S. economic recovery is back on track following the missteps earlier this year.

A very rosy picture is beginning to emerge on the housing market, pointing to sustained buoyancy in the sector's recovery, which remains one of the few bright spots for the U.S. economy.

The strong housing starts and industrial output performance will bolster the Fed confidence that growth momentum has rebounded, potentially supporting the bias for a near-term hike. Nevertheless, with inflation continuing to miss to the downside, the case for caution remains strong.

The upbeat tone of these reports will offer further encouragement to the Fed. And while we do not expect any change from the Fed's current wait-and-see mode, the resiliency in household sentiment will underpin their confidence in eventually putting rate hikes back on the table.

We expect this buoyant performance to continue during the second half of this year, underpinned by strong employment growth, low mortgage rates and continued confidence in the economic recovery.

For the Fed, this report is likely to offer some encouragement on the underlying labor market backdrop, though it is unlikely to change the current 'wait and see' policy stance as they assess the fallout from the Brexit vote.

The housing market recovery is truly back on track ..., which should reinforce confidence that the economic recovery is moving in the right direction.

Overall domestic growth momentum appears to be on the mend. Nevertheless, the weak performance in business capital investment activity suggests that this segment remains a source of drag for the U.S. economic recovery.

These disappointing reports will likely add to the caution at the Fed. Given the weak performance in these two key segments of the economy, we expect the rebound in growth momentum in the second quarter to be quite weak.

It points to a very strong start to the crucial spring selling season, and initial anecdotal indications point to this positive momentum being sustained in coming months.

It speaks to the weakening in domestic economic momentum at the start of this year, further reinforcing the Fed's cautious monetary policy bias.

The broad-based nature of the decline in inflation will hardly be encouraging news at the Fed, and if anything it is likely to temper their confidence in the outlook for inflation.

While this growth slowdown should prove temporary, the deceleration in consumer spending could be a worrying sign of possible contagion to the domestic side of the economy from the global headwinds.

This report should shore up the Fed's confidence in the inflation outlook as the firming in domestic prices will likely serve as a confidence booster in their expectation for inflation to move back towards target in a timely manner.

We ended the quarter and started the year much weaker than previously thought. That said we still have a fairly constructive outlook. If you look at the confidence numbers, that suggests that we might be in for a fairly decent rebound in spending activity, maybe not this quarter but certainly in the months ahead.

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