Chris Rupkey, chief economist at Bank of Tokyo-Mitsubishi, says today’s report on new orders for big-ticket durable goods is proof companies are investing in plant and equipment, and contradicts the claim by some economists that they are not, and therefore holding back growth. He says the faster rate of job creation in the U.S. also shows the economy is on strong enough footing for the Federal Reserve to lay the groundwork for its first rate increase next year. He says Fed chair Janet Yellen may reveal a more positive view on the labor market when she speaks in Jackson Hole in August. Rupkey speaks with Bloomberg’s Kathleen Hays on Bloomberg Radio’s "The Hays Advantage”.
Running time 12:06