From the tone of his testimony today, it's obvious he sees a pretty strong economy.
More Quotes from Daniel Jester:
The longer-term up-trend in the index is intact. Inventories are extremely lean, global growth is firming and there are mounting unfilled orders.Daniel Jester
Today's sharp decline in jobless claims is great news.
Daniel Jester
If the Fed continues to raise rates, adjustable-rate mortgages will continue to get pinched. That's going to take people who are stretching to buy homes off the table.
Daniel Jester
The trend is still for healthy productivity growth between 2 and 2.5, and unit labor costs are expected to only slowly rise over the coming year.
Daniel Jester
Right now, we're seeing upward momentum in long-term rates, especially with new inflation worries. Long-term rates have been so low for so long compared to where they'd normally be in the business cycle -- at some point a correction is necessary.
Daniel Jester
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We learn this by the precepts that Jesus left. He observed that the people were looking outward, and assured them that the kingdom of God cometh not with outward observation; and for this reason, that it was only to be known in man.
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Christine Gregoire