Ultimately, for the economic recovery to sustain itself, we have to see the labor market improve. As the tax-cut benefits fade, consumers will look for more fundamental reasons to spend money, and there will have to be some job growth.
More Quotes from Ethan Harris:
The surplus creates an environment where there's a tremendous amount of saving being freed up for private investment every time the government pays down its debt, that frees funds to flow into private investments. That has created this strong growth economy that we have.Ethan Harris
The market is getting lulled into sleep here. In reality we think that both the inflation numbers and the growth numbers will keep the pressure on the Fed.
Ethan Harris
This was the big match to get. You just want to get to (today), no matter what it takes.
Ethan Harris
With inflation trending up, we believe the Fed will want to stay on the tight side of neutral for an extended period.
Ethan Harris
In the big oil shocks that really damaged the economy, the tax on the consumer was many times more than that, but that alone wasn't enough. You also had to have people worrying that prices were going higher forever.
Ethan Harris
It's not a question of a sudden explosion in prices. It's more an erosion of the low-inflation psychology.
Ethan Harris
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Emil Zatopek
So I got a chance to meet a whole bunch of those old real, real rough but gentle men. They lived hard, but they lived good - in one sense, you know. But you had a lot of fun. Didn't make much money, but you had a lot of fun.
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I wake up in the morning, I do a little stretching exercises, pick up the horn and play.
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