Market Overview

Keith Banks And JJ Kinahan Weigh In On The Health Of The U.S. Economy

Keith Banks And JJ Kinahan Weigh In On The Health Of The U.S. Economy

  • Benzinga got a sneak peek of this Sunday’s Wall Street Week.
  • The show will feature Keith Banks, JJ Kinahan and James Bernstein.
  • Among several issues, the experts discussed the health of the U.S. economy.
  • When asked about the health of the U.S. economy, Banks assured he feels good. In his view, the U.S. economy could retrieve a number around 3 percent in the fourth quarter. “You’ve got consumers very strong, and getting stronger, jobs being created, earnings are going higher,” he expounded.

    Expansion And The U.S. Economy

    Banks – president at U.S. Trust, Bank of America Private Wealth Management – explained his position by stating those at the firm believe “we are toward the middle part of the [expansion] phase than the end of the phase.”

    In fact, he continued, the analysts at U.S. Trust think there are “at least a few more years… and maybe have break the record for the longest expansion that we’ve seen to date.”

    Related Link: Larry Summers Explains Why He Is Positive On The U.S. Macroeconomic Situation

    Then, JJ Kinahan, TD Ameritrade's Chief Strategist, chipped in, talking about jobs, which, he believes, “tend to solve a lot.”

    “The one thing we are all waiting to see is wage growth,” he added. As the job market’s health improves, more people will be competing for talent, Kinahan explicated. This, in turn, drives up wages, which, in turn, translates into more spending, he stated.

    However, people should take into account that wage growth is not the only figure to look at. “You’re seeing a lot of bonus type things being given [...] You have to take that as part of compensation.”

    Image Credit: Public Domain

    Posted-In: Bank of America James Bernstein JJ Kinahan Keith BanksAnalyst Color Economics Media Trading Ideas Best of Benzinga


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