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.
More Quotes from Bill Cheney:
Even though there probably is a recovery in the pipeline, there isn't going to be any clear evidence of it by the time we get around to the next meeting.Bill Cheney
I think it is clear that, whatever the economic outlook was on Monday, the outlook is shakier now, and there are stronger arguments for cutting rates.
Bill Cheney
Clearly the August spending data confirm that consumer spending was on the weak side but still in positive territory, which I think would have confirmed a consensus view that the worst was probably past.
Bill Cheney
We knew that it was a wet month and that rain tends to keep people away from shopping, so I thing a large part of this is actually a weather story.
Bill Cheney
Weak employment growth but higher hourly earnings point Greenspan and the Fed in two different directions. Either the economy is slowing down and the Fed needs to sit tight, or inflation is starting to take off and another tap on the brakes may be necessary.
Bill Cheney
It's another in the long series of the no-news-is-good-news story about inflation.
Bill Cheney
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