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.
More Quotes from Drew Matus:
The data today suggests that there was only a temporary pause in this sector and that we can expect more growth going forward.Drew Matus
People are going to take advantage of the lower interest rates to buy big ticket items like automobiles. People are buying what's cheap. The impact occurs more in the luxury spending areas.
Drew Matus
I would have thought people would have changed their earnings expectations given that higher rates were expected to slow growth. The expectation all along was that because of productivity growth, companies would be able to keep boosting their profit margins, even if they weren't producing as much in goods and services, but that's obviously is not the case.
Drew Matus
The labor market is hot and getting hotter, and that is one of the reasons the Fed continues to raise rates.
Drew Matus
Of course it's great for inflation. But, really, the market doesn't care about the numbers because they're not the payrolls report.
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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