But change is coming, hints Kelvin Droegemeier, retiring vice chair of the board and head of its Indicators committee.
Besides employment, nearly every indicator that the committee considers simultaneously reached a low point in June 2009, which made that month a relatively easy selection as the official turning point, Mr. Gordon said.
One quality chair emphasised the importance of being able to "step back a bit and look at what the high indicators are" (quality committee chair, regional).
St. John's has beaten No. 13 Syracuse and No. 22 Connecticut the last two games to boost its Rating Percentage Index -- a key indicator for the selection committee -- to 17th in the nation.
"Under these circumstances the forward guidance would be considerably less clear than calendar-based guidance, as outside observers would have difficulty determining when this wide-ranging set of labor market indicators would cause the committee to believe that rate hikes should begin," he wrote.
In addition, qualitative indicators provided by a committee of experts who evaluated the research groups have been analyzed in order to study the relationship between qualitative indicators and quantitative measures, in particular these of durability.
If NBA Commissioner David Stern's comments following a six-hour meeting of the league's new competition committee are any indicator, then Van Gundy might just get his wish.
"Although most indicators have turned up, the committee decided that the determination of the trough date on the basis of current data would be premature," the panel said.
In a statement, the bank's seven-strong monetary-policy committee said recent indicators pointed to a "gradual and protracted" economic recovery.
Usually, the committee's favored indicators turn down together, but this time industrial production peaked in September of last year, wholesale and retail trade during the winter, employment last March and personal income probably in October.
"Although most indicators have turned up, the committee decided that the determination of the trough date on the basis of current data would be premature," its statement reads.
