We have solid job growth, but no significant inflationary pressures.
More Quotes from 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
This is simply what a recession is like. This report represents real people and real pain, especially around the holidays.
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
What worries me the most is a slip backward becoming a spiral downward. Jobs are the linchpin of both consumer confidence and consumer spending. We can't sustain many more losses like this without that downward spiral getting started. This is the kind of data that could make the Fed think about easing again.
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
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
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