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Joshua Shapiro Quotes

While this was obviously a good month, we don't expect this to continue. We think it's going to be a slow drift up in core inflation going forward. - Joshua Shapiro

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A softening trend for consumer spending is the most likely outcome for most of this year, particularly as housing cools off. However, we do not think that consumer spending growth is going to fall apart anytime soon. - Joshua Shapiro

It's going to be hard in the near term to do anything more than slow the rate of deterioration in the deficit. Imports are just too large compared with exports. - Joshua Shapiro

Clearly, as this sales data and also the mortgage application data show, there is plenty of strength still in housing. However, is this, as we speculate above, fence-sitting buying ahead of perceived rate increases, or can this pace be maintained as buyers think that low rates will last for the foreseeable future? - Joshua Shapiro

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