Stephen Gallagher Quotes

We're seeing a reduced impact from the hurricanes and we're getting back to the underlying norm. We're looking for about an 80,000 increase in non-farm payrolls in October, and it's still picking up. - Stephen Gallagher

We have a very healthy economy with little inflation. We could have this kind of growth for the next couple of years. - Stephen Gallagher

Unit labor costs moving up is seen as fanning some of the Fed's concerns on inflation, but I doubt from the Fed's perspective that this changes their view very much. - Stephen Gallagher

This may be a natural reaction to the war, but the losses are deep and spell increasing trouble for the economy if uncertainties do not lift very quickly. - Stephen Gallagher

This is negative news and giving the market reason to pause a little. The core number is up 0.3 instead of 0.2. It's all it takes. - Stephen Gallagher

These results will reinforce the Fed's thinking. - Stephen Gallagher

The inflationary implications drawn from the combination of exceptional growth and higher inflation could become more ominous when we incorporate the tightening labor market trends. - Stephen Gallagher

The housing numbers look pretty strong, but we have to discount them due to the mild weather effects. We are getting confirmations from the companies themselves about lower orders. - Stephen Gallagher

The Fed is worried about pass-through, and even if they don't see it in the September numbers it won't make them feel secure about the future. This will help the markets remain confident that inflation is low but not necessarily convince the Fed. - Stephen Gallagher

The Fed is not going to stop but it has got to be a bit more encouraged that their big fear ... that there would be pass-through from energy to other goods and they really are not seeing it. - Stephen Gallagher

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