Joseph Abate

The claims data are telling us that the labor market is continuing to improve and growing at a rate of read more

The claims data are telling us that the labor market is continuing to improve and growing at a rate of about 200,000 jobs a month.

With little excess capacity left in the labor market, we expect continued upward pressure on wages.

With little excess capacity left in the labor market, we expect continued upward pressure on wages.

There has been some spotty signs of a cooling in the broader housing market.

There has been some spotty signs of a cooling in the broader housing market.

On net, we'll see some damage and a hit to corporate profits and proprietors' income, but that effect is temporary. read more

On net, we'll see some damage and a hit to corporate profits and proprietors' income, but that effect is temporary. But in the next quarter, we will get some mild stimulus from the rebuilding. Certainly, it will have no major, permanent effect on the economy.

Manufacturing activity in the region appears to have cooled off. We suspect it will be another month or two before read more

Manufacturing activity in the region appears to have cooled off. We suspect it will be another month or two before auto manufacturers start ramping up production to replenish sales-depleted inventories.