The labor market is very healthy. The most important economic indicator for the average person is their job. As long as people are working, they're earning and that's offsetting a great deal of the pain from record prices at the pump.
More Quotes from Richard Yamarone:
Consumers are partying like it's 1999, ... They are celebrating their full-employment status and they are spending. The punch bowl is only spiked with 1-12 percent inflation, which isn't anything.Richard Yamarone
The economy is motoring along and we are indeed creating more than a decent amount of jobs. But there are a number of hurdles that lie in our path of prosperity record energy prices and the economic consequences of Hurricane Katrina.
Richard Yamarone
People buying generators sounds more like a smart insurance plan to protect some of their assets, rather than a sign they're living in fear. It may dampen people's outlook a little bit, but not in a way that would translate into weaker spending.
Richard Yamarone
As long as there is a perception that higher prices are in the tea leaves, that's a problem certainly for policy makers. And I think that's why the Federal Reserve seems hellbent on raising rates.
Richard Yamarone
Now it's time to pay the piper and get this deficit back down to more manageable levels, and I believe the president's budget will address these issues,
Richard Yamarone
I can't imagine that these energy prices aren't elevated through the winter. We anticipate even higher prices. Companies don't want to hire ahead of uncertainty.
Richard Yamarone
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