FastSaying
Even though the pace of starts may continue to edge lower on an underlying basis, we look for about a 6% gain in January.
David Greenlaw
Basis
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Edge
Lower
Pace
Starts
Though
Underlying
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Since we believe that the underlying state of the labor market is quite healthy, we would expect any negative weather- related impact on the February data to be recouped in March.
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The economy has shown tremendous resilience in the face of energy prices so far. But this latest spike will have a noticeable effect in the next couple of months.
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While the dissent came as a surprise, we certainly wouldn't read it as evidence of any sort of a significant split on the FOMC.
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