The pool of available labor is diminishing and worker efficiency is growing more slowly. This adds up to a higher level of pressure on wages, and, by inference, on inflation.
More Quotes from Carl Tannenbaum:
We're trained to think that rapid growth after six years of expansion is finally going to kick prices up a little bit, but in fact they're going in the opposite direction,Carl Tannenbaum
This economy has a lot of momentum and seems intent on challenging the Fed to keep in under control. Inflation is a real risk here after six years of expansion. The Fed perhaps is taking the first step, a down payment if you will, to try and keep that under control. But it may take more than what we saw yesterday.
Carl Tannenbaum
We've been able to achieve great things amid great challenges- including the stock market crash of 1987, the bursting of the stock bubble in 2000, two wars and the September 11, 2001, terror attacks. Alan Greenspan might be thought of as our most valuable economic player.
Carl Tannenbaum
All three of the Big Three automakers have been increasing the amount of their production planning, ... We're also seeing a little kick-up in overtime hours. Even if demand tapers off, they'll need to get production going to get inventories to more normal levels.
Carl Tannenbaum
Energy costs, which act as a tax on consumer budgets, are taking a smaller bite out of consumer pocketbooks. There is, therefore, more money available to spend on other (non-energy) things.
Carl Tannenbaum
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