Joe Abate

In the long run, crowding out tends to mitigate the effects of fiscal policy.

In the long run, crowding out tends to mitigate the effects of fiscal policy.

The employment picture remains fairly grim, and that's having a dampening effect on measures of consumer confidence. And we have read more

The employment picture remains fairly grim, and that's having a dampening effect on measures of consumer confidence. And we have higher energy prices, which is another drag on consumer confidence and a 'tax' on consumer spending.

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.

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 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.