Anthony Chan
Anthony Chan
economic fallen far jobs million prior short today typical
We've fallen far short of prior economic expansions, ... We're about 5-1/2 million (jobs) short of where would be today if this were a typical expansion.
fast information reacting
Today, information disperses so fast that we're reacting in nanoseconds to the news,
actual budding control evidence exactly fear fed greatest likely lost moderate recovery shows
Going into this report, many analysts greatest fear was that the Fed may have lost some control of this budding recovery. The actual evidence shows that a moderate recovery is exactly what we are likely to get.
average believe continues earnings leading monetary overall pace report rise
The pace of average hourly earnings continues to rise at just a tepid pace leading me to believe that this overall report is a very monetary policy-friendly report.
arising gains loss month possible reflective sector service sure temporary trend truly wait
We may want to wait for another month or so to be sure that such gains were truly reflective of a upward trend and not just a possible distortion arising from the temporary 'hurricane-related' loss of many lower-paying service sector jobs,
capital early eventually healthier pave profits recovery spending stages
We may very well be in the early stages of a profits recovery that will eventually pave the way for healthier capital spending growth,
bullish fine justify line measured sound status walk
He can't sound bullish and he can't sound bearish, ... He has walk a very fine line to justify maintaining this measured status quo.
economy fed greenspan seems structure underlying willing
Greenspan has to give reassurance that, if things deteriorate, the Fed is willing to act. But the underlying structure of the economy seems pretty good.
housing momentum permits since strength
I would say that momentum (in the housing market) probably will not continue, since you don't see the same strength in permits that you do in construction,
adopted aggressive along continue engine fed humming inflation keeps line posture raise somewhere surprise
keeps the Fed tightening engine humming along and does raise the possibility that a more aggressive posture could be adopted somewhere down the line if the inflation indicators continue to surprise to the upside.
absolutely greenspan widely
It absolutely makes tomorrow's (Thursday's) Greenspan announcement as widely anticipated as the new 'Star Wars' movie.
economic expansion job losses normal signs transition until
While job losses may be ebbing, we have yet to see any signs of outsized hiring. This will not come ... until we transition from a slow-growing expansion to a normal economic recovery.
basically
What this does is basically vindicate Greenspan's policy. In 2000, we're going to see more of a gradualist policy.
basically
What this does is basically vindicate Greenspan's policy,