Joe Abate

The market didn't like his lines about inflation. Overall, the speech was extremely well balanced . . . The market read more

The market didn't like his lines about inflation. Overall, the speech was extremely well balanced . . . The market is just focusing on one or two lines out of the entire speech.

We now believe that the first Fed rate hike will not come until December, and we continue to worry the read more

We now believe that the first Fed rate hike will not come until December, and we continue to worry the Fed may be forced to ease again before it begins hiking rates.

The stronger data virtually assure significant changes in the Fed's directive this week. The new directive will probably include a read more

The stronger data virtually assure significant changes in the Fed's directive this week. The new directive will probably include a grudging acknowledgement of the stronger labor market and inflation statistics.

The economy is weakening and we're going to see more of the effects of that.

The economy is weakening and we're going to see more of the effects of that.

We are talking about an economy averaging about 30 miles per hour in a 60-mph speed zone. That keeps pressure read more

We are talking about an economy averaging about 30 miles per hour in a 60-mph speed zone. That keeps pressure on the unemployment rate, forcing it to continue to rise. By summer, we could have 6.4 percent unemployment.