21 Quotes by Stephen Gallagher

Unit labor costs moving up is seen as fanning some of the Fed's concerns on inflation, but I doubt from the Fed's perspective that this changes their view very much,

We're seeing a reduced impact from the hurricanes and we're getting back to the underlying norm. We're looking for about an 80,000 increase in non-farm payrolls in October, and it's still picking up.

On the headline, it's a great report, up 5.8 percent. The recovery is under way. But we're also beginning to see a bottom in durable equipment declines, which is important because it's about corporate profits. But we still need that to be stronger to make sure that this recovery is here to stay.

Businesses have been through a lot over the last few years, and many of them don't have a great deal of tolerance for uncertainty.

Retailers have no pricing power themselves, as evidenced by all the discounts they had to offer to generate holiday sales. In terms of volume, they succeeded, but not at the level of profitability they would have liked.

Reduced liquidity in the markets is likely to result in a wider swap spread.

We have a very healthy economy with little inflation. We could have this kind of growth for the next couple of years.

Employment growth is very healthy for the economy. Job and income gains will remain supportive for consumer activity.

Real consumption expenditures will likely be a full percentage above our earlier estimates of 5.0 percent to 5.5 percent. As a result, real GDP in the first quarter is more likely between 5.5 percent and 6.0 percent.