Given the absence of core inflation, it seems to me as good a time as any to pause and see what's happening for a few months rather than overshoot and risk a recession.
More Quotes from Bill Cheney:
We've gotten to a point now where inflation is something which, for the most part, we don't really think about. And I guess that's exactly the way Federal Reserve Chairman Alan Greenspan wants it.Bill Cheney
We're still several months away from job growth catching up with labor force growth and driving the unemployment rate back down, but that's really just a matter of time. Our economy is moving again, and once that happens it's actually quite hard to stop the forward momentum.
Bill Cheney
Even though it's improving, there's still an awful lot of people who dropped out of work force and are waiting to be pulled back in.
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
By mid to late October, you're getting into the fourth quarter, and people are starting to look at their year-end results and deciding whether they can bail out now and still look good for the year. That's going to be as true now as it was (in 1987).
Bill Cheney
Rising unemployment, ironically, contains good news. It signals people who had given up and dropped out of the work force are back looking for jobs. Clearly, they have hope there are jobs to be found.
Bill Cheney
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