Looking ahead, we can't see what is going to cause a downturn of enough significance to take inflationary pressure out of the economy and cause the Fed to stop raising rates.
More Quotes from Drew Matus:
We continue to expect the Fed to raise rates three more times, raising the fed funds rate to 4.50 percent by the end of January.Drew Matus
If we get more inflationary data, that could bring people back to their senses. Just because the Fed talks about inflation in a benign way one meeting doesn't mean that feeling will be pervasive at the next meeting.
Drew Matus
The important thing, though, (it that) it's a January number. So we ended the fourth quarter on 1.1 GDP growth, but now, starting the next new quarter, we're going to have this surge in housing activity. And it's going to add to GDP estimates for the first quarter.
Drew Matus
When you have MA activity, strategic decisions are being made, and that's a development that only occurs when people are very confident and looking towards the future. That will help the economy, and we will have hiring.
Drew Matus
The problem with higher energy prices is that they act like a tax on the American consumer. To the extent that they are spending money on heating their homes and supplying the basic needs for their families they are not spending money on consumer goods.
Drew Matus
This raises possibility of a pass through into core inflation. While companies can absorb some of the pipeline pressures, the way to do so is productivity gains that we're not seeing anymore.
Drew Matus
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