Michael McKee

I think the general feeling is it could reduce credit availability because it's not in the financial interest of the banks to do that.

And so it could be a problem for the economy.

I saw a note that some of the banks are considering it.

But really what it is, is who's going to get the card?

Is it the people who pay their bills off every month, in which case it doesn't matter?

But if you're a low-income person, you're not going to get 10 percent.

I think the general feeling is it could reduce credit availability because it's not in the financial interest of the banks to do that.

And so it could be a problem for the economy.

I saw a note that some of the banks are considering it.

But really what it is is who's going to get the card?

Is it the people who pay their bills off every month, in which case it doesn't matter?

Right.

But if you're a low-income person, you're not going to get 10%.

year over year, 2.8 percent.

The headline, 2.8 percent.

While that is what's expected, it's not going down, which is something that the Fed has been watching because this is their target 2 percent number.

It's a very, very low number.

It's certainly not the record in recent months or years, but what we're seeing is certainly a growing labor force.

There are a lot more Americans out there, so there are more Americans working.

So the number of jobless claims falling just tells you that the labor market is holding in there.