It's clearly good news. Clearly it means that the Fed is still free to ease as much as they are inclined to.
More Quotes from Bill Cheney:
When demand does start to rebound, the Fed will have to deal with the delayed effects of a year of aggressive monetary stimulus. Short-term rates will almost certainly have to rise faster and farther than seems credible today. Of course, this is a problem that we now feel we would enjoy facing.Bill Cheney
While we're still skating on the edge of recession, I think the outlook for the economy is now quite encouraging. We may not feel great right now, but if a recession is a nasty case of the flu, the good news is that all we're suffering now is just a really bad cold.
Bill Cheney
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.
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
There is still a big backlog to be made up before it feels like a tight job market. Clearly it's a tighter job market than it was a year ago, and if we continue to add a million jobs a quarter, we'll move in that direction. But I think it will take a little bit of time.
Bill Cheney
The advance GDP report is a funny animal. It's a combination of data that's already out there combined with official guesses. There isn't a lot of real new news.
Bill Cheney
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