You have to look at these numbers over a few months. Coming in, we had several months of very substantial gains, ... The basic picture is that business spending is bottoming and showing some signs of improvement, but it's not really robust.
More Quotes from Joshua Feinman:
We need to keep in mind that this is the time of year when weekly fluctuations can be hard to seasonally adjust. We may need a few more weeks to sort it out. Overall, the readings we've been getting suggest the deterioration in the labor market is slowing down.Joshua Feinman
As the national economy gets better, California will get better, and some of its problems will be less acute.
Joshua Feinman
They are a bit more sanguine about inflation than the market has been, and they've been trying to tell people that. It doesn't mean they have their head stuck in the sand. With the last sentence of their statement, they leave themselves plenty of flexibility.
Joshua Feinman
Did firms have trouble making profits back in the 1950s and 1960s ... No -- they were used to a low-inflation environment, and the cost side was used to that, and workers' expectations about wages were more attuned to that.
Joshua Feinman
Companies have the wherewithal to pick up the pace of hiring and capital investment again, but I'm not sure they have the desire, for a variety of reasons -- including their outlook on future demand.
Joshua Feinman
The United States has been the engine of global growth for some time. It would behoove the world if other engines were to develop, but it doesn't look like that's happening. As long as that's the case, U.S. growth will mostly be determined by what happens here.
Joshua Feinman
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