The manufacturing sector has turned the corner and improved, but it is not likely to push the economy to a level of growth that will make policy makers nervous or financial markets nervous about higher interest rates. It's steady growth, which is better than rapid growth that would likely be snuffed out by the Federal Reserve.
More Quotes from Anthony Chan:
But what we've seen is if you hit the economy over the head enough times with higher energy prices and short-term interest rate hikes, it reacts.Anthony Chan
We're probably going to see unemployment at 5 percent by the time this is over. The good news is, this is still relatively low compared to the past two recessions.
Anthony Chan
These jobs are not lost forever. When you take into account everything coming through the pipeline, all Federal aid, all the insurance money, there will be a lot of jobs created by recovery efforts. Remember the GDP of New Orleans was about 40 billion annually before the storm. We'll easily see more than that being pumped into the system.
Anthony Chan
Based on these trends, it is not too difficult to conclude that the average consumer is probably a bit overextended from a credit standpoint,
Anthony Chan
Even though the headline number came in much stronger, it isn't the number investors are going to be focusing on.
Anthony Chan
It could raise expectations of a pause (in Fed interest rate hikes) after the August meeting,
Anthony Chan
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