PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia discussed some surprising market numbers, as well as the leftist agenda for the Federal Reserve.
Celia stated, “We had another great day on Tuesday in the markets. As we look at some of the economic data that came out yesterday, we ought to be concerned. We’ve got productivity revision at a negative 5.2%. All I could think about was Jerome Powell last week saying that the economy is very good. That was probably the scariest testimony to his inability to read the economy and know what’s going on. In my opinion, I think it’s somewhat of a testimony that he has caved to the left and is going to continue to make sure that the Federal Reserve is just another political arm of the left. We will never nor can we ever have growth in an economy when we have a negative GDP number of 5.2%.
“Perhaps one of the most telling numbers of all was unit labor cost. My jaw dropped when I saw 9.6%. They were expecting 8.4 and we just came off an 8.3 number. This is all credited to higher wages and is called permanent inflation. That won’t be going away soon and this 9.6% increase in unit labor costs will create suffering for manufacturing businesses and will immediately get passed on to all of us.”
Celia discusses these and other global and economic headlines on his daily, three-hour “Financial Issues” program, heard on more than 660 radio stations and several television networks nationwide, including FISM.TV, viewed on several post-cable television platforms and online.
Read more about Celia, FISM and “Financial Issues” or visit the FISM website, its Facebook page, on YouTube at Financial Issues with Dan Celia or on Twitter @financialissues; download the FISM app here.
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