It's not as friendly as some of the other inflation numbers, but it's just one indicator. We have no inflation warning signals from any of the other major inflation indicators.
More Quotes from Ethan Harris:
What's happened between now and then is that we've accomplished everything we've set out to achieve, ... Then they were trying to get the economy to the state it is in now, so the attitude now is, 'lets not screw anything up.'Ethan Harris
It suggests moderate growth in the year ahead, but I don't think there's much risk of a 'double-dip' recession.
Ethan Harris
They're voting with their wallets and they're spending. There's always a concern that people just don't like what they're seeing, but they are still buying.
Ethan Harris
We see a number of reasons for the Fed to drop its 'measured pace' language.
Ethan Harris
Companies have been able to maintain incredible productivity growth for a low-growth economy. It does look like firms are finding ways to use technology and make do with fewer workers.
Ethan Harris
Everyone is all zeroed in on the consumer now, but the truth is that the consumer isn't the driver now. Confidence is picking up, but still at average levels. Wage growth is slow and the bulk of the tax cut is already in place. Finally, with all the debt people have taken out over the past several years the burden of paying monthly bills is leaving less for discretionary spending.
Ethan Harris
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