Mickey Levy Quotations

We're looking for increases in employment, but because the labor force is growing 1 percent a year, we need 125,000 new jobs per month to stabilize the unemployment rate. We see the unemployment rate drifting slightly higher and lingering higher for the next year.

We've seen data from various sectors showing the economy is beginning to stabilize. Not only employment, but the manufacturing sector as well. And holiday retail sales, consumption and housing look OK. So, we have all these powerful stimulants that are going to contribute to growth as 2002 unfolds.

We've seen a clear pickup in consumer spending and housing and now the manufacturing sector. I'd say with a couple more months, businesses will start to gain confidence.

Keep in mind that monetary policy works with a lag, so that this shouldn't have any impact on the consumer, ... My guess is a quarter point.

Regardless of who is president, it looks like they will not have a mandate.

Looking forward, the factors are in place for economy to rebound, ... Capital spending will stay in negative territory for a while, but I expect consumer spending to turn by the end of the year.

The critical question is how much the White House listens to Greenspan.

The factors are coming into place that point to an eventual rebound.

What we see is manufacturers are increasing production slightly but only enough to meet demand. They're not really comfortable enough to build inventories or hire a lot yet, but things are improving modestly.

The recession has ended, ... It is pretty typical but mild recession because consumer spending remained firm and housing continued to grow.

The reason we've shifted to deficit spending is largely due to a shift from very robust economic growth and a booming stock market into a recession. The bottom line is, I'm not particularly concerned.

There is a concentrated effort to draw Jerusalem into the circle of violence.

This number may be a touch better than expectations.

Everything is in place for a healthy rebound.

There's no excess demand in the economy and it's really healthy economic expansion.

The robust gain in economic output in the fourth quarter will combine with only a modest rise in hours worked to generate another spectacular increase in productivity for the quarter. Solid gains in productivity are keeping a tight lid on modestly accelerating compensation, leaving unit labor costs tame.

Production and employment always follow demand, and we've seen a pickup in demand. I think this will translate into a better labor market in May or June. I know the employment reports have been disappointing lately, but be patient.

After a couple of false starts, the past couple of months does have the feel of a more traditional recovery, driven by consumer spending and housing. The follow-through is the business response.

Consumer spending is growing only modestly. So, it appears the easing of interest rates has helped the consumer only somewhat ... not a lot.

The Fed is going to have a tough call. The economy is growing fast, but there is no wage pressure ... There are as many reasons for why (rates) should be on hold as why they should be tightened.

I'm more interested in how people spend than how they respond to surveys. I've found that the consumer sentiment survey really doesn't provide much value added in forecasting consumer spending patterns. I'm not too upset about the decline.

He spoke in detail about some fairly complex issues. The broader plan is to conduct monetary policy based on rigorous economic analysis and hard thinking about the economic concepts that go into the conduct of monetary policy.

The employment sector is looking like it's stabilizing. It will probably bottom out at 6.0 percent in the next few months.

Although a heightened degree of overseas job outsourcing is probably taking place, the phenomenon is likely exaggerated by newspaper headlines,

The economy continues to operate at a pace that is non-inflationary -- companies are able to keep their costs down, even with tight labor markets. What it clearly indicates is that the Fed will probably remain on hold through the rest of the year.