Purchasing Power

(1) The Fed is hearing that the local folks are benefiting from the long expansion. (2) Jobless rate down sharply for most Americans by race, ethnicity, and education. (3) Consumers’ purchasing power continues to power ahead. (4) There’s no stagnation in real wages, which are powering ahead to record highs. (5) Trend in employment growth remains solid. (6) Record number of full-time jobs. (7) Consumers are saving a lot, especially in liquid assets rather than in stocks. (8) Low rates forcing savers to save more. (9) Households’ debt-servicing burden is at record low. (10) The income inequality naysayers are getting some pushback finally. (11) Movie review: “The Irishman” (+).