The Wall Street Journal: "The sun is shining in New York City and the thermostat has finally producing spring-like numbers. It’s taken longer than everybody expected. It’s much the same in the economy."
"Most folks seem content to write off the first quarter to the snow that pounded large swaths of the country. 'While the economy may have tripped in the first quarter, it will recover in the second and accelerate through the year,' Gregory Daco at Oxford Economics wrote. Even if the economy doesn’t hit boom growth rates, he still expects the Fed to start raising rates in September. 'Despite some of the underwhelming economic data reports, the U.S. economy still retains solid underlying momentum.'”