Bill Cheney
Bill Cheney
indicator time
Every time you see another indicator that they (consumers) are still spending, that's encouraging.
carry chairman fed latitude wants
The Fed chairman has a lot of latitude to do things the way he wants to. I don't see why he wouldn't carry the day the way he wants to.
coming fairly fed percent starts sticks
If unemployment sticks at about 6.0 percent and starts coming down, the Fed will probably feel it has to start tightening fairly soon.
gas goes living oil price
If you're living on the edge, then when the price of gas and heating oil goes up, you end up over the edge.
corporate flow gains job market rapid seems until wages
In principle, rapid productivity should make wages rise, but it seems that until the job market tightens up a bit, all the productivity gains flow to corporate profits.
burst capturing creative danger employers greenspan happening hidden kinds point provoke report sure suspicion wage ways
If there is a danger, it is that the report isn't capturing creative and hidden ways employers are boosting wages. I'm sure Greenspan has a sneaking suspicion that these kinds of things are happening and that they may at some point provoke a burst of wage inflation.
clearly ease fed free good inclined means
It's clearly good news. Clearly it means that the Fed is still free to ease as much as they are inclined to.
bottom consensus expecting fact less line number
The bottom line is, any number over 50 is encouraging. The fact that it's a little less than the consensus was expecting I don't think is that big of a deal.
net
Corporations may be ultra-cautious, but at least they're not slashing jobs, and that's a net positive.
absorb increase jobs labor month natural numbers order positive rate rather smaller takes
It takes something on the order of 150,000 new jobs a month to absorb the natural increase in the labor force. As long as we keep getting smaller positive numbers than that, the unemployment rate should be trending up rather than down.
series
It's another in the long series of the no-news-is-good-news story about inflation.
crashed cut emergency evidence happened market panic rate treat yesterday
It would be kind of like when they put through a substantial emergency rate cut when the market crashed in 1987. I don't think it is evidence of panic to treat what happened yesterday as an emergency. It's an emergency on many levels.
road worst
The worst is over. We're on the road to recovery.
cause cents continue ease economy growing healthy inch inflation less might pressures rate rise wages worry
The rise in wages of 6 cents might cause jitters, but wage inflation is less of a worry now, especially with productivity still growing at a healthy clip. As the economy slows, the unemployment rate will continue to inch up and wage pressures should ease further.