Actually there are two pieces of news. One is that although the market consensus was only 250,000, the bond market was fearing a much, much stronger report --hence the relief rally that followed the release of the numbers.
More Quotes from Bruce Steinberg:
Oddly, the statement accompanying the cut was uniformly negative in its assessment of the economy, which would have been consistent with a bigger move. We assume Fed policy makers were divided and that the smaller move allowed a consensus to be formed.Bruce Steinberg
I believe they are going to raise rates at least twice more after today.
Bruce Steinberg
As the job market gradually improves, it should easily support consumer-spending gains of at least 3.5 percent this year.
Bruce Steinberg
We don't expect the Fed to tighten anytime soon. The first tightening move is unlikely to occur before late summer at the very soonest.
Bruce Steinberg
They've already been working together. Summers sits in on the meetings Rubin has with Greenspan much of the time.
Bruce Steinberg
We still believe that the recession will persist through the winter, mainly because major job loss looms ahead in order to restore profit margins.
Bruce Steinberg
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Wallace Stevens
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I am not the born; how can there be either birth or death for me?
Guru Nanak