The November report was a good report and one that is consistent with what we expect at this phase of the cycle.

There was nothing here to suggest that the Federal Open Market Committee [FOMC] will want to change its plans for its next scheduled rate hike. But there was also nothing here to suggest they should make any material changes to their forecast either.

This report does, however, bring stability and sustainability to the fore. Further growth will matter, but the composition of that growth will matter more.

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