The economy is still growing at an above trend pace and with slack in labor and product markets all but fully absorbed, inflation pressures will begin to gradually build this year.
More Quotes from Stephen Stanley:
There is sufficient upbeat news on the economy to convince the FOMC to tighten. If the economy warrants a rate hike, the Fed would be doing a great service by delivering.Stephen Stanley
The employment number will be the key for the stock market next week.
Stephen Stanley
Productivity rises could be more modest going forward, since hours worked should grow faster as job losses caused by the hurricanes are reversed. Fed officials will remain watchful of a reacceleration in unit labor costs.
Stephen Stanley
We are seeing some improvement in foreign economies, but the imports are just so much bigger than exports you would have to have a big slowdown in U.S. demand to really make a difference. I don't expect to see any big improvement in the near term.
Stephen Stanley
We expect productivity growth to moderate, and compensation gains and unit labor costs to pick up. Just another piece of the puzzle that points toward more Fed tightening than the market currently expects.
Stephen Stanley
The 'economy is weakening' crew will have a field day with this report. But until we see two weak numbers in a row, I am absolutely unconvinced. . . . Disappointed Definitely. Changing our big picture view No.
Stephen Stanley
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