Joseph Abate

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.

With corporate balance sheets and cash flow strong, we look for investment spending to remain strong, pushing up growth in read more

With corporate balance sheets and cash flow strong, we look for investment spending to remain strong, pushing up growth in the capital stock and adding to labor productivity growth in 2006.

The fact that households are saving so little, even with strong growth in personal income, is a potentially troubling development.

The fact that households are saving so little, even with strong growth in personal income, is a potentially troubling development.

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.