Michael Gregory Growth Quotations

Mortgage equity withdrawal (which keys off prices and rates) is going to ebb substantially and pull consumer spending growth down along with it. When it does, the Fed will pause.

Underlying demand in the U.S. economy remains solid, irrespective of the stock market. We are looking at growth in domestic spending that will probably exceed what we had in the fourth quarter.

Exports should find further support from the pickup in global economic growth.

There's little doubt out there that Greenspan will move this time around and try to put the brakes on growth a bit. The question is whether this is a one-time deal or a continuation of a series of moves meant to really keep the economy in line.

Consumers may be wobbly, owing to high energy prices, a vulnerable housing sector and increasingly uncertain medical and pension benefits, but there is nothing like the whiff of solid job growth to keep them on their feet.

That's certainly going to be the critical number. A number indicating employment growth, particularly increases in wages, could prompt the Fed to move by the end of this month.