Friday's report probably reduces the odds of the Fed making another move at its next meeting. This is fairly benign report it would have taken something a bit worse than this to get the Fed to move again.
More Quotes from Bill Cheney:
If there are danger signs brewing ... that make people very, very nervous, I don't see anything that could prevent the same kind of mood (as Black Monday's) from reappearing. It's clear that you don't need a very concrete, cut-and-dried kind of trigger to make people stampede if they're in the mood to be stampeded.Bill Cheney
Now we're starting to see that wash out, and we're seeing that the labor market really has been gradually strengthening for most of the first half of this year. And this is fundamentally good news for consumers and for the health of the recovery going forward.
Bill Cheney
Record or near-record trade deficits spark howls of concern about the threat posed to the economic expansion, but like inflation, the trade deficit's bark has been far worse than its bite. April's deficit, another near record, simply shows that we are still importing like there is no tomorrow.
Bill Cheney
Given the volatility of the report, I don't put a lot of credence in the forecasts. The headline number is the news and the fact that it went up signals that the recovery isn't falling apart.
Bill Cheney
Every time you see another indicator that they (consumers) are still spending, that's encouraging.
Bill Cheney
I don't think it really suggests there is any inflation developing -- a 0.3 percent rise in wages is pretty manageable. But it's a pretty positive report it suggests that the overall jobs market is pretty healthy.
Bill Cheney
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