PERSONAL INCOME AND SPENDING SLOW

“Two things drive GDP: growth in the labor force and growth in productivity.  The problem is labor force growth is very sluggish. And my own judgment and our economists at the Dallas Fed think it’s going to continue to be sluggish the next 10 years because the...

CHICAGO FED INDEX IMPROVED IN APRIL

“Right now the U.S. economy is doing OK. John Williams, Federal Reserve Bank of San Francisco, 5/19/17 FAST FACTS ABOUT TODAY’S ECONOMIC DATA: Chicago Fed National Activity Index at the highest level since November 2014. Japan Trade Balance slipped due to drop in...

CHINA STILL HAS THE MEANS TO STIMULATE

“It is indeed very clear that the threat posed by North Korea’s missile and nuclear program is now entering into a new stage. That is our recognition.” Shinzo Abe, Prime Minister of Japan, 5/15/17  FAST FACTS ABOUT TODAY’S ECONOMIC DATA: China economic data...

SO FAR, 74% OF S&P 500 BEAT Q1 ESTIMATES

“If we delay too long in taking the next normalization step and then find ourselves in a situation where the labor market becomes unsustainably tight, price pressures become excessive and we have to move rates up steeply, we could risk a recession.” Loretta Mester,...

HAS PCE DEFLATOR PEAKED?

“We’re not in the same world we were in 20, 30 years ago. In particular, our workforce is growing much more slowly, so just pure demographics, the number of people available to work is not consistent with 4 percent growth.” Former U.S. Federal Reserve Bank...
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