Until businesses feel a real need for more hands-until productivity alone won't allow them to reach their earnings goals-they won't begin hiring.
More Quotes from Oscar Gonzalez:
Strong but moderating retail sales and improving productivity suggest an economy that should continue to grow while avoiding overheating, ... The reports would seem to make it less likely that the Fed will need to move again this year.Oscar Gonzalez
Inflation has picked up and there is some pricing power evident. Certainly by saying that, the Fed is telegraphing that they could easily increase rates by 50 basis points if they had to, even though at this point there doesn't seem to be a need for more than a quarter-point hike,
Oscar Gonzalez
The trend is now clear. Inflationary pressures are building and prices are rising only the pace remains at issue, ... September's figures may prove to be just a spike, but we can't dismiss the growing risks of a sudden acceleration in inflation.
Oscar Gonzalez
I think the Fed will act aggressively. The timing remains to be seen, but both Main Street and Wall Street are pleading for further rate cuts, so I think Greenspan will respond. The sooner and deeper a rate cut, the sooner consumer and business confidence should improve.
Oscar Gonzalez
Since the economy is softening, I expect inflationary pressures to subside. The door is still open for the Fed to continue easing rates, as necessary.
Oscar Gonzalez
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