Record-high profits, combined with solid economic growth and rising capacity utilization will translate into robust capital spending - all good news for the industrial sectors of the economy.
Even before the hurricane hit, rising energy prices were having a dampening effect on the economy,
The Fed can take comfort in the fact that core inflation remains tame, despite some modest inflationary pressures - gradually rising wage inflation, tighter capacity constraints and higher oil prices.
All housing indicators point to a slowdown that is in full swing: falling home sales, rising inventories, and now falling starts and permits.