Anthony Chan
Anthony Chan
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Today's Fed rate cut and directive clearly reflects the fact that the Fed is coming to the end of its rainbow and therefore wants to ensure that it still can convince financial markets that it still has further flexibility to do more if it needs to.
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More rate cuts may not be forthcoming, but the Fed is also not likely to start raising rates as quickly as financial markets expect.
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This report is actually quite favorable for financial markets since we see very little inflation pressure while simultaneously seeing job creation inching up,
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The best way to describe this report is 'holy cow,' ... This is a great report. We have Alan Greenspan a little bit worried about inflation and certainly the financial markets will realize that those worries certainly continue to prove to be unfounded.
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We've seen a sea change in the way the financial markets and economy watchers are looking at the world, ... For many months, people thought the economy was so strong and robust, they could ignore these head winds.
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He not only was articulate in his views, but justified his views without making financial markets balk. He was impressive, maybe not as impressive as Greenspan, but Greenspan had 18 years to practice.
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In the short run, it's a no-win situation for the administration. But longer term, it's a win-win situation because you keep financial flows going, and economic growth will become a lot firmer.
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By telling us that the risks are more heavily weighed towards weakness while simultaneously stating that they expect an economic recovery within the next several calendar quarters, they are revealing that they remain willing to act if they need to while also reassuring financial markets that there is no need for panic over the near term.
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What the Fed showed was that extraordinary circumstances require an extraordinary strategy. Not only are they moving rates to lows not seen since the early '60s, they're prepared to move them a lot lower.
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We will see more bad news on the employment front. We see unemployment going to 6.1 percent or 6.2 percent before it's over; no way are we going to see that coming down while we're creating so few jobs.
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These claims numbers confirm the notion that things may improve sometime in the future. The fact that we didn't go over 400,000 was very encouraging.
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These results suggest that the current low energy prices should serve as an important and positive boost to overall economic growth.
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The stock market didn't want the economy to grow too quickly because they were worried about aggressive rate hikes, ... They wanted the Goldilocks approach where everything was just right. But now they realize that maybe the porridge is a bit too cold for their taste.
continued despite fed greenspan improvement inclined labor latest market might move neutral remain risks small suggest testimony towards
The small improvement in labor market conditions, despite the continued risks that remain on this front, do suggest that even with all the caveats that Greenspan echoed in his latest testimony ... the Fed might be inclined to move towards a neutral risk bias.