With income growth strong and the labor market set to tighten through 2006, the overall growth outlook should remain robust.
More Quotes from Drew Matus:
The current focus going into the employment report this week has much more to do with habit than anything based in reality.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 market liked what it didn't see. The market got itself worked up about the Fed possibly being more aggressive about inflation and when that didn't appear in the minutes, investors then focused on a relatively benign view of inflation.
Drew Matus
With this kind of income growth, the consumer has room to run. This tells us we don't need to worry about the first quarter.
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
There's no sign of inflation, and the labor market is still weak. There's still plenty of room from the Fed's point of view.
Drew Matus
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