We're finally getting consistently good news on the labor markets and even an occasional positive surprise like today's report.
More Quotes from Oscar Gonzalez:
Inflation hawks may be eating crow today. Despite their fears of tight labor markets and a strong economy, inflation is only creeping, not accelerating. I don't think that this report assures that the Fed tightening cycle is over, but I wouldn't be surprised to see rising market expectations of a rate cut. With most prices in check and energy prices easing, this report is about as good as it gets.Oscar Gonzalez
The overall trend is still pretty dismal in terms of imbalances between imports and exports.
Oscar Gonzalez
While improving consumer confidence probably suggests downside protection against a slump in spending, it does not suggest we will see spending take off. We still need a sustained improvement in the jobs market, including a significant decrease in unemployment with a solid increase in real wages.
Oscar Gonzalez
The numbers reflect a little bit of the unwinding of consumer spending, ... It's not all of that was unexpected, given the (weak) figures we had on retail sales.
Oscar Gonzalez
We are looking at a growth rate somewhere in between 6.5 percent and 7 percent at this point. I think it's really going to be up there.
Oscar Gonzalez
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