AT 8:30 A.M. EASTERN TIME.
THE U.S. ECONOMY EXPECTED TO
SHOW GROWTH IN 3.3%.
GLOBAL ECONOMICS EDITOR OF "THE
WALL STREET JOURNAL," JON
HILSENRATH.
THAT NUMBER AND ALSO YOU ARE
EXPECTING A 3% GROWTH IN THE
CURRENT QUARTER AS WELL.
THREE CONSECUTIVE QUARTERS OF 3%
OR MORE GROWTH HASN'T HAPPENED
SINCE 2004.
>> RIGHT.
THE ECONOMY IS ON A ROLL RIGHT
NOW.
WE REALLY HAVE TO LOOK AT THE
FOURTH QUARTER TO SEE IF THIS
SECOND AND THIRD FOLLOW THROUGH
WITH 3% GROWTH.
THE PRESIDENT HAS BEEN SAYING A
BEEN SAYING YOU'LL GET THE THE
ECONOMY UP TO 3%.
MARKET HITTING NEW HIGHS.
PEOPLE ARE MORE COMFORTABLE
ABOUT SPENDING.
WE ALSO HAVE A GLOBAL ECONOMY
MOVING AND THEN FOR THE FIRST
TIME IN ALMOST TWO DECADES.
EUROPE FINALLY GOT THROUGH ITS
FINANCIAL CRISIS.
JAPAN IS ON A ROLL.
WE HAVE A LOT OF TAIL WINGS THE
ECONOMY IS BACK RIGHT NOW.
>> JOHN, YOU HAD A NUMBER OF
COMPANIES AS WE MENTIONED THEM.
AT&T, COMCAST PAYING BONUSES FOR
THE SAME THING YOU'RE TALKING
ABOUT MORE THAN 300,000 PEOPLE
THERE.
MINIMUM WAGE INCREASE TO WELLS
OR THIS IS THE REAL DEAL?
>> WELL, WHAT DO GET AN
UNEMPLOYMENT RATE DOWN INTO THE
LOW FOURS WHERE IT IS NOW,
POSSIBLY GOING INTO THE HIGH
THREES, YOU SHOULD START SEEING
WEIGHT PRICES BUILDING.
KIND OF LIKE STANDARD THEORY IF
THERE IS A SUPPLY AND DEMAND,
SCARCITY OF LABOR, THE PRICE OF
LABOR SHOULD BE RISING.
TO SEE.
I'VE BEEN LOOKING AT CITIES IN
THE COUNTRY WHERE UNEMPLOYMENT
IS LOWER THAN IT IS IN THE
NATIONAL AVERAGE AND WE ARE
STARTING TO SEE WAGE PRESSURES
BUILD IN SOME OF THOSE PLACES.
AGAIN, IT'S AN ECONOMY WITH
TAILWIND THAT IS BACK IN THE
REALLY GOOD NEWS IS WE ARE NOT
SEEING THE ACCESS IS BUILDING
WOULD DERAIL IT.
GOING INTO 2018, PRETTY GOOD
ROLL.
>> I WANT TO STICK WITH THAT
THEME WHICH IS IN MANY PARTS OF
THE COUNTRY OF SKILLED LABOR
SHORTAGES.
ECONOMY STARTS TO HEAT UP IN
THEIR SISTER RACED DOWN?
>> I DON'T SEE RUNAWAY INFLATION
OR RUNAWAY WAGE INFLATION FOR A
COUPLE REASONS.
THE MOST IMPORTANT OF WHICH IS
THE SHORTAGES OF LABOR IN SOME
POCKETS OF THE COUNTRY, THAT WE
NOW LIVE AND A GLOBAL MARKET,
GLOBAL ECONOMY.
AMERICAN WORKERS ARE JUST
COMPETING WITH PEOPLE IN OTHER
STATES.
FROM ALL OVER THE WORLD.
THAT HAS REALLY KEPT THE LID ON
PRICES AND WAGES.
SO IS TECHNOLOGY.
NOW IF YOU WANT TO GO OUT AND
BUY SOME DIAPERS, YOU CAN CHECK
THE PRICE ON AMAZON TO MAKE SURE
YOU ARE NOT PAYING TOO MUCH AT
THE LOCAL GROCERY STORE.
ALL OF THAT KEEPING THE LID ON
PRICES AND WAGES.
THE TROUBLE THING AS AMERICANS
HIGHER PAYING JOBS AND WE ARE
USING SHORTAGES OF SKILLED LABOR
IN PLACES LIKE AUSTIN.
THAT IS A SIGN OF UNDERLYING
PROBLEMS IN THE ECONOMY WE
SOUGHT TO FIX.
DAGEN: MOVING ON TO THE STORY.
TRADERS ARE REPORTEDLY BATTLING
$1 MILLION THAT THE DIGITAL
CURRENCY WILL HIT ABOUT 50,000
NEXT YEAR ACCORDING TO A STORY
IN THE PAPER THAT'S TRIPLE THE
CURRENT PRICE.
WHAT ARE THE CHANCES OF THIS
HAPPENING?
>> THAT IS BASED ON TRADES GOING
THE INTO STUFF LIKE THAT BECAUSE
WE DON'T KNOW WHAT'S ON THE
OTHER SIDE OF THE TRADE.
SOMEONE MIGHT BE TAKING A CALL
OPTION OF 50,000, BUT THEY MIGHT
THAT.
THERE IS THE THEORY RIGHT NOW
AMONG BITCOIN FOLLOWERS THAT IF
IT BECOMES 1% OF GLOBAL MONEY
SUPPLY, IT IS WORTH $36,000 PER
BITCOIN.
STORIES FROM CENTRAL BANKERS
PEOPLE.
WHO IS WRITING THESE THINGS?
>> THIS IS ONE OF THE CHALLENGES
YOU MENTIONED CENTRAL BANKERS.
NOT SO MUCH BUYING BITCOIN, THAT
THEY MIGHT BE GETTING INTO THE
TECHNOLOGY BEHIND, WATCHING
TECHNOLOGY IN CREATING AN
ALTERNATIVE FOR THIS GLOBAL
YOU KNOW, CENTRAL BANKS GET INTO
THE ACTION, IT COULD HURT THE
VALUE OF BITCOIN ITSELF.
DAGEN: THAT'S NOT THE ARTICLE I
READ.