I don't really see this as down it's really flat. We're still at a level well above the post-Sept. 11 low and so long as it doesn't trend downward, I'm comfortable with the idea that consumer spending is going to hang in there.
More Quotes from Bill Cheney:
Every time you see another indicator that they (consumers) are still spending, that's encouraging.Bill Cheney
We're not only stuck in a soft patch we're spinning our wheels. To get back to full employment, we need a lot more demand, and that's hard to see coming anytime soon from either domestic or international sources.
Bill Cheney
You are seeing a large number of people coming out of the woodwork because there are jobs to be found. People are now looking for jobs because it is now worth looking.
Bill Cheney
A lot of people must still be sitting on the sidelines. This kind of job growth will encourage them, but I don't see it sparking a surge in wage costs. We still have a lot more room for job growth before we have to worry about venturing into dangerous inflationary territory.
Bill Cheney
I don't think the Fed is going to move today, but I think they probably will adjust their statement simply because of all the uncertainty around consumer and business reaction to war.
Bill Cheney
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.
Bill Cheney
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