The good news for workers is that productivity growth cannot continue at this pace. Demand will translate into jobs very soon, and in fact I think it's happening right now.
More Quotes from Bill Cheney:
The headline number is absolutely kind of a shock, I think the bond market is probably overreacting. It's a bounce back from September, but we're still not gaining back all the ground lost in September. The underlying trend is still kind of down.Bill Cheney
Inflation is a potential risk. It's not a reality yet.
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
It's really a benign number, so no real new news.
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
It's still the same story, that there really is no inflation problem at this stage of the cycle.
Bill Cheney
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Life is a constant oscillation between the sharp horns of dilemmas.
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A belief may be larger than a fact.
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