What we take away as significant is a slightly bigger drag on first-quarter GDP as a result of the revision to March and starting off the second quarter with lackluster trade, which would exert a higher drag on GDP.

The market is readying itself for a 50-basis-point rate increase. Shorter-term issues are reflecting that, while longer-dated bonds are gaining on expectations that next week's refunding announcement will be positive.

I think there's gong to be hurricane effect for next couple of readings. It's not just Katrina and Rita. Hurricane Wilma was causing evacuations, business closings in October.

It is going to make economists slightly revise down first-quarter GDP, which they already did with the weaker consumer spending number.

It's necessary to be slightly underemployed if you are to do something significant.

It's necessary to be slightly underemployed if you are to do something significant.