Slowing income gains and increased uncertainty have savaged consumer spending. This has removed the only major support for the economy, insuring the recession will last, at least, into early next year.

Higher claims suggest slower job gains, which should dampen income growth, consumer spending, and overall economic activity.

Despite a robust economy and tight labor markets, inflation is still low and steady. These data provide some relief for the Federal Open Market Committee.

Given the uncertainty of the effect the hurricane may have on the economy, the Fed may take a pause in raising interest rates.

The uncertainty of the current economy continues to put tremendous pressure on consumer spending, ... However we are confident of our ability to control operating expenses while rolling out major innovative merchandising and customer service programs and opening 200 new stores during the coming year.

I'd characterize the local economy as relatively strong over all. Commercial real estate, the securities industry, and thus personal income and tax revenues, and, to a lesser extent, the labor market are all showing signs of strengthening. The housing market has shown some signs of cooling recently, but remains pretty strong in terms of levels.