Businesses are running up against capacity constraints and have no choice but to hire, and that may bid up wages. Productivity is decelerating and inflation pressures keep creeping up.
More Quotes from Joel Naroff:
The sharp rise in wages is a two-sided sword. On the one hand, workers' income is finally starting to increase, and that bodes well for spending. On the other hand, labor costs are on the rise and that implies potentially higher inflation.Joel Naroff
Consumers may have throttled back a touch in February, but given the weather and all they had spent the previous few months, we cannot conclude that consumption is faltering.
Joel Naroff
Now gasoline prices are breaking 3 a gallon. If we stay here or go higher in the fall, that would begin to put the holiday shopping season at risk.
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The new Fed chair will be tested right off the bat. The economy is slowing, though clearly not as rapidly as the headline number would have you think. ...At the same time, inflation is slowly accelerating.
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Given the sharp falloff in vehicle sales, the modest decline in overall spending was actually very good news,
Joel Naroff
This was a very solid report. The labor market is firming and workers are beginning to see their wages improve.
Joel Naroff
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Based on Topics: Business & Commerce QuotesBased on Keywords: decelerating
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