Robert Johnson, CFA

Better to spend your time focusing on underlying economic fundamentals.

Rapid expansion of the more frugal 65-and-over population will be a headwind on consumer spending and economic growth.

Investors are hoping bad economic news will delay a Fed rate hike, but their focus is misplaced.

In years past, job growth has looked remarkably strong in late winter and early spring, only to fall apart over the summer months.

February's employment report showed surprising growth in the jobs market, but further acceleration in the months ahead is unlikely, says Morningstar's Bob Johnson.

Pundits can be exactly right in forecasting Fed actions and perfectly wrong about interest rates.

Although recent data suggests we've turned into a nation of savers, the low-gas-price celebration might have actually started last fall.

Forecasts for Chinese growth have been, and continue to be, overly optimistic, as demographic and other headwinds kick in.

We have always said that employment is a lagging indicator and recent results may be real proof of that phenomenon.

Faulty seasonal factors, weather, and issues at ports have given the illusion of hypervolatility in recent GDP data, writes Morningstar's Bob Johnson.

Some factors that are benefiting U.S. consumers are simultaneously weighing down corporate earnings in key sectors, says Morningstar's Bob Johnson.

December's decline had many worried, but adjusting for monthly noise and inflation paints a brighter picture.

The ECB did what it had to do this week, but quantitative easing won't solve Europe's fundamental problems.

As the eyes of the world turn to the ECB, some are beginning to worry about the strength of the U.S. economy.

Viewed year over year, hourly wage growth has been remarkably stable and has shown improvement after adjusting for inflation.

The gap is the widest in history as limited builder lots and a focus on higher-end homes has pushed up new-home prices.

Slowing international markets, a still-slow housing market, moderating auto sales, and rising interest rates will all weigh on growth in 2015.

While the world frets about oil and the Fed, all eyes should be on the consumer and demographics.

Real wage growth has been sluggish, but low inflation and a tightening job market could give it a kick.

The positive effects and sustainability of lower energy prices remain an open question.

Our current economic recovery might be among the slowest in terms of growth rate, but it's also one of the longest-lasting we've seen.

At least a portion of last month's high job growth may be due to overly aggressive seasonal factors.

Despite the slowness of the recovery, it has been relatively long-lived, especially compared with recoveries of the '50s and early '60s.

Despite the apparent contradictions in recent reports, the U.S. manufacturing industry is witnessing slow and steady improvement.

Though off its lows, the financial obligations ratio is still well below average as rates and debt have come down, but rent pressures loom.

Robust restaurant sales growth indicates that consumers are warming up to spending more of their hard-earned cash.

Purchasing manager survey data, which historically has had a strong correlation to GDP, seems to be pointing toward solid economic growth.

Year-on-year, job growth hasn't sustained much higher than current levels going all the way back to the 1980s.

The market may cheer more free money for all, until the reality of Japan's issues gets a second look.

A slumping world economy and falling crude-oil prices may soon push gasoline below $3 a gallon, which is great news for consumers.

Modest headline inflation is good news for consumers, but under the surface rising rent and groceries bills have taken a bite.

Europe woes, retail sales data, and mixed earnings rocked markets this week, but not all the news was as bad as it seemed.

Bad news from around the world could mean bad news for the U.S., too.

Private sector employment has been stuck in an exceptionally narrow range of year-over-year growth since 2011.

We may likely be entering a period of slower growth, but no growth at all is unlikely.

The manufacturing sector looked particularly strong this week, while housing data was mixed.

Fund-flow data show investors arriving late to the party as they've chased performance in emerging and then developed markets over the last several years.

Not everybody is feeling the relief reported by this week's lower inflation data, but those who are might spur some spending growth.

Despite the Federal Reserve's tapering, U.S. interest rates have followed the downward trajectory of eurozone rates in 2014, says Morningstar's Bob Johnson.

Strong retail data this week isn't just a flash in the pan.

The federal deficit is much lower now than it was a few years ago, but more adjustments in fiscal policy are needed to address the long-term deficit, says Morningstar's Bob Johnson.

August has been a very tough--and often revised--month for employment over the last few years.

Hopefully, their boost in savings will start to burn a hole in the economy's pocket.

Paradoxically, weak overseas economics have probably helped the U.S. at least as much as it has hurt.

The month-to-month numbers look frightful, but year-over-year growth is in line with recent trends, says Morningstar's Bob Johnson.

The formerly unimportant job openings report has taken on a new significance and recently suggests a tightening labor market.

Maybe investors have realized that the best growth prospects remain in the United States

The unemployment rate is about three times higher for those with no high school diploma versus college graduates, says Morningstar’s Bob Johnson.

This week's GDP report now makes my original full-year 2.0%-2.5% GDP forecast a real possibility, writes Morningstar's Bob Johnson.