The sentiment I get from the Beige Book, along with listening to quarterly earnings conference calls, and just the general tone of my conversations with people who have their fingers on the trigger of hiring, say companies are just not doing much of it.
More Quotes from Richard Yamarone:
This is good news. For all intents and purposes, this is really good data. Some equities should rally on this.Richard Yamarone
Inflation is not a problem and generally isn't during periods of economic weakness, ... This is simply because producers cannot pass along increased prices.
Richard Yamarone
I don't think these high energy prices are going away any time soon. Consumers are pulling back.
Richard Yamarone
By any measure, third-quarter economic growth was quite impressive. It would be even more impressive if it could be sustained in the fourth quarter, but we're almost certain to lose some momentum.
Richard Yamarone
It's not all roses in the labor market. I think the worst is behind us, but we're more likely to have flat, or sideways, movements in job creation for the next year, year and a half.
Richard Yamarone
We are going to have a winter of discontent.
Richard Yamarone
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