Unfortunately, wages grew by less than that pace, which explains why spending has begun to tail off.
More Quotes from Joel Naroff:
As far as inflation goes, this was as good as you could possibly get.Joel Naroff
While wages didn't rise exceedingly rapidly, the low (jobless) rate is a warning that labor costs are probably going to increase further.
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
They're giving a few more dollars to people who have home equity credit lines, which is really about the only place left where the Fed is helping. We're really not talking about a whole lot of impact.
Joel Naroff
Okay, mild weather helped, but let's get real. People don't go out and buy houses if they are worried about the future, even if mortgage rates are fairly low and the sun is shining brightly.
Joel Naroff
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