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.

What you're seeing is a glut of gently used vehicles, and that's putting pressure on all vehicle prices.

What you're seeing is a glut of gently used vehicles, and that's putting pressure on all vehicle prices.

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.

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.

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.