Joseph LaVorgna
Joseph LaVorgna
current environment optimistic people somewhat telling
People are telling you they are still somewhat optimistic about the future, but the current environment is lousy.
economy economy-and-economics landing soft weak whether worried
I think it's probably them worried more just about a very weak economy than whether it's a soft landing or a recession. But the Fed, they don't really care. They just want to see the economy get back up.
economy fine labor market
The economy is doing fine and the labor market is on the mend.
figures retail sales softer
The retail sales figures were really soft, much softer than expected.
bottom contained growth inflation line picture remains underlying
The bottom line is that the underlying picture of above-trend growth and contained inflation remains intact.
adding crowd cusp everybody extended fed imminent notion oil proving thinking
It's just adding to the notion that the Fed is on the cusp of an imminent and extended pause. It's proving what everybody was thinking -- the I-told-you-so crowd -- that oil is going to weaken things.
bid bonds fed finishing maybe rate talked toward
The Fed is toward the end of its rate hikes. Equities and bonds got a bid because the Fed talked about maybe finishing its tightening.
commonly consumers continue income job money prospects spend tells
While consumers are forking over a lot of money on gasoline, they continue to spend elsewhere, ... This tells us that job and income prospects are better than what is commonly understood.
sake financial wealth
The financial wealth that has been created is unprecedented. Even if the stock market, for argument's sake, leveled off here, there's been so much wealth built up that we really can feel spending for some time.