Carl Tannenbaum
Carl Tannenbaum
act available bite consumer energy money smaller spend taking tax
Energy costs, which act as a tax on consumer budgets, are taking a smaller bite out of consumer pocketbooks. There is, therefore, more money available to spend on other (non-energy) things.
fiscal inflation negative news rate rates remain trade
After all the negative news about our trade position, our fiscal problems, our currency, our inflation rate and the Fed's credit-tightening program, long-term rates remain very, very low.
economy fed inflation intent momentum payment perhaps risk saw seems six taking
This economy has a lot of momentum and seems intent on challenging the Fed to keep in under control. Inflation is a real risk here after six years of expansion. The Fed perhaps is taking the first step, a down payment if you will, to try and keep that under control. But it may take more than what we saw yesterday.
cross currents job market overall report
There are a lot of cross currents out there ... but overall the report suggests the job market is still doing pretty well.
adds available efficiency growing higher labor level pool pressure worker
The pool of available labor is diminishing and worker efficiency is growing more slowly. This adds up to a higher level of pressure on wages, and, by inference, on inflation.
albeit begin drift guess later rates
Our guess is that long-term rates will begin to drift up later this year, albeit modestly.
begin bit both economy fed higher influence market performed rates surprised
It has surprised all of us that the economy has performed so strongly, but we think that the accumulated influence of higher rates both in the market and by the Fed will begin to take a little bit of starch out of the economy.
based certainly fed thinking
In the thinking of most analysts, based on the fundamentals, there certainly is enough out there that the Fed should keep going, at least at this meeting.
aside businesses cautious companies damage economy hiring might operate operations resulted state suspense
Hiring was cautious in October. Aside from companies not being able to operate because of the hurricanes, many businesses might have been in a state of suspense as they assessed damage to their operations and to the economy that might have resulted from these storms.
active cloud creating dark economic households news
Households and corporations are still very active and are creating economic momentum, which is tremendously encouraging news for the economy. The only dark cloud comes from the news on prices, which are going up.
consumers financial pay positive statement willing
Even with zero-percent financing, monthly payments for SUVs are still high, ... Consumers being willing to pay that much makes a positive statement about their sense of financial well-being.
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It's a big surprise and another puzzle for economists to try to figure out.
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It's a good time to make sure your debt is at a reasonable level.
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It's certainly surprising. I mean, all of the recent news suggested that we're going down a slippery slope toward a slower economic time.