For that rate hike. She sees moderate growth this year and beyond. The economic head winds out there that include housing and budget spending have been waning. On the labor markets, its approaching full strength. First time i believe they said that with the Unemployment Rate to fall by year end. It is close to the long run level although she does point out that it will be not fully healed along with a slack such as people working parttime. She said inflation will rise as the economy strengthened and importantly as temporary factors were received which is what she expects in the forecast. A couple of things she said the european recovery is on firmer footing, but has concerns about global on the u. S. Economy. An important economic point that we can talk more about another time but said recent productivity is disappointing and thats something they watch at the Federal Reserve. Back to you. Thank you very much. Along with mandy drury, welcome to power lunch. More breaking news with david
Good morning, everybody. I am connell mcshane. Where are the spending cuts . Now, the president may want to pull the rug out from under them. We will tell you who has the leverage. We are all expected to get something less in our paycheck. How much the government takes is the question. Cash only. The vatican is not in line with new regulations. The pope can only accept your cash donations. The actor Patrick Dempseys new business is coffee. He is taking on starbucks. All of that is going on today. Plus, it is a jobs friday. We start off with nicole petallides. Nicole not too far off the unchanged line. It is just not good enough. Americans are still waiting for jobs. The nasdaq and the dow pulling back a little bit. Today lulu lemon is down. At the same time, they upgraded under armour. What is interesting, though, when i was looking out lulu women, over 52 weeks, it is up over 44 . It has been a stellar performer. It has gained in popularity. Connell thank you very much. There is fresh
Annual rate. That was up from secondquarter growth from 1. 3 . How are investors reacting to that . Stocks now and every 15 minutes. Nicole petallides at the new york stock exchange. Nicole good morning, everybody. When you look more closely into the number and then maybe people have been doing exactly that and that is why we have a negative number here on wall street for the dow jones industrials. This gain came from americans using their own income, buying products and services. That is not the case. The formula is comprised of several factors, one of which is pending by the federal government. It turns out they did more spending and that is why gdp got a pop. Back to you. Dagen thank you so much. Breaking news right now. The National Hurricane center releasing its latest advisory on Hurricane Sandy and the storms track. Sandy is still a category one storm with 80 Miles Per Hour sustained winds. It continues to head towards the east coast. We bring in the cheap mineralogist at whethe
Welcome back welcome back to squawk. Lets get back to our guest host mark zandi who has the last word. All morning ive been talking about the next couple of quarters and i sound dark, and i dont mean to. I am very optimist being. What happened to the last two hours . You forced me. In the next couple of three quarters we cant look past that that i do think we have issues in the next few months, but ill give you one more last statistic. Every housing start requires five jobs for one year and Housing Construction will double in the next four years. Thats great news. Mark zandi, thank you for being here. Thank you. Steve. Thank you for being here. You dont look like joe kernen. I definitely dont look like joe kernen. Squawk on the street joins us right now. Good monday morning, good monday morning. Welcome to squawk on the street. Im melissa lee with, and lets see how well open for four Straight Record closes for the dow and it looks like the street may be pointing to a lower open. As for
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