We had a lot of companies in that period that were not making money, hiring a lot of people who were not doing anything for their pay.
More Quotes from Drew Matus:
There have been historical precedents where people have spent well in excess of what they've earned from foreign trading partners for extended periods of time and nothing has happened. The big wild card is you have a reserve currency (such as the dollar), how much extra room does that give you. That's the 100,000 question, or the 100 million question, or the 1 trillion question.Drew Matus
This is as aggressive as I've ever seen for the Fed in terms of making clear that they're raising rates and that they're not near being done.
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
Ferguson is very operationally oriented. I think that's a role the Fed needs, but I'm not sure that's what administration is looking to put into the top spot.
Drew Matus
An extraordinarily weak figure for August. As a result, we are lowering our Philadelphia Fed survey forecast to 18.0.
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
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