A lot of American businesses are still fighting the last recession as opposed to gearing up for the next expansion. That process could take a few months, so we could still see some ugly numbers from the labor market for another month or two.
More Quotes from David Kelly:
What's remarkable is how little the statement changed. The one thing that is important is that the Fed has always, over the past few years, tipped its hand. But they have still not indicated that they are close to ending their tightening.David Kelly
It was a brave goal, a fantastic goal. According to the medical people Brett didn't know much about it but he'll be OK.
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Outside those areas, there's just not enough money to get you there.
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Either in May or June, the Fed will have to raise interest rates.
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Even if consumers pull back a bit, just rebuilding those inventories will add a lot of growth. We will see a shift to business spending from consumer spending in the fourth quarter, and when that occurs, it will be quite healthy.
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