The Fed keeps trying to walk the middle course, and unfortunately that gives ammunition to people who think the Fed should be raising rates more and ammunition to people who think the Fed should be done.
More Quotes from Drew Matus:
Growth was lower than expectations because of inventories -- which will need to be rebuilt -- while moderating employment costs will make it less costly for firms to hire additional workers. The still-strong level of wage and salary should buoy consumption.Drew Matus
His speeches are well thought out. After Greenspan, he's the one whose comments are most closely watched by the markets.
Drew Matus
The prices received number tells us that basically some firms are gaining pricing power. What that really means is there could be inflation in the outlook.
Drew Matus
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.
Drew Matus
The big wild card becomes what the Fed does about it. That's why the bond market is rallying -- rather than concentrate on the inflationary aspects of higher oil prices, the market thinks the Fed will focus on the growth aspects.
Drew Matus
With income growth strong and the labor market set to tighten through 2006, the overall growth outlook should remain robust.
Drew Matus
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