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Housing Picks Up

Before we all declare the war over allow me to remind you about the volatility of the housing starts data: the March report has an enormous statistical error range of +/- 15.2%. That is sufficient to eliminate and reverse any gains in the news. Having said that the report was a decent one: March starts […]

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Jobs and Production: Where’s The Improvement?

Yesterday we read that Bernanke gave a fairly upbeat assessment of the economy in his regular briefing of Congress. We also read that his information was derived, in part, from the local Federal Reserve banks, all but one of which – the laggard being St. Louis – reported improvement in activity and jobs within their […]

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