Joe Abate
Joe Abate
continue economy forcing hour keeps miles per percent pressure speed talking
We are talking about an economy averaging about 30 miles per hour in a 60-mph speed zone. That keeps pressure on the unemployment rate, forcing it to continue to rise. By summer, we could have 6.4 percent unemployment.
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In the long run, crowding out tends to mitigate the effects of fiscal policy.
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The stronger data virtually assure significant changes in the Fed's directive this week. The new directive will probably include a grudging acknowledgement of the stronger labor market and inflation statistics.
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What you're seeing is a glut of gently used vehicles, and that's putting pressure on all vehicle prices.