For me, core inflation is running at a moderate pace and is slowly accelerating. That is what I believe is driving the Fed to raise rates.
More Quotes from Joel Naroff:
Katrina will be more of a positive for manufacturing demand as time goes by. There's so much that's needs to be replaced and that demand would never have existed without Katrina.Joel Naroff
Business tax cuts may save the corporate bottom line a little bit, but they will neither induce new investment nor increase production, ... Only a rise in spending will do that.
Joel Naroff
Productivity will be stronger in the first quarter, but the trend is still toward moderating growth this year.
Joel Naroff
But inflationary pressures are not going away, so the Fed will likely raise rates tomorrow and on December 13th and early next year,
Joel Naroff
Housing is the one key sector that is supposed to be interest-rate sensitive, but at least so far, rates have not risen enough to cause a major retrenchment.
Joel Naroff
What we are basically looking at is an economy that is not very different from the economy last year. Depending on your industry and depending on your business, if you liked last year, you will probably like this year.
Joel Naroff
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