Growth is picking up in the labor market. People are returning to work, working longer hours and making more money. This shows that the economy is healthy. Fears of a soft patch were overblown.
More Quotes from Drew Matus:
Higher oil increasingly will creep into the indicators. Today, it biased the trade gap higher and pushed up import prices and also impeded the consumer sentiment number.Drew Matus
We're right where they want us to be -- between 2 and 2.5 percent increases in the core CPI. But last year there was more inflation than they were anticipating at the beginning of the year, and the concern you hear being expressed is that they don't want that to happen again.
Drew Matus
There are figures that show roughly 50 percent of households have exposure to equities in some form, and clearly we would start to see a dip in consumer confidence and some retrenchment in spending from the recent sell-off, I don't think this is necessarily the beginning of a bear market.
Drew Matus
The data today suggests that there was only a temporary pause in this sector and that we can expect more growth going forward.
Drew Matus
People are going to take advantage of the lower interest rates to buy big ticket items like automobiles. People are buying what's cheap. The impact occurs more in the luxury spending areas.
Drew Matus
On a real basis the trade deficit widened by over 1.7 billion for the month and places the trade balance on a trajectory that would likely reduce fourth-quarter GDP growth by more than 0.5 percent.
Drew Matus
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