Some people were concerned after the revisions yesterday and were maybe looking for bigger increases in the core (today) and there's a little bit of rallying, but it's very, very minor.
More Quotes from Elisabeth Denison:
What it will do is push up first-quarter growth probably close to 5.0 percent, so a nice rebound from the fourth quarter.Elisabeth Denison
We've got tightening resources but modest ... pressure on wages. So no reason to panic for the Fed, but certainly more reason for them to take rates a little higher.
Elisabeth Denison
The Fed seems to think that this is a one-time adjustment.
Elisabeth Denison
It's a very small decline. It's definitely settling in a downtrend and all the information from the surveys and from that kind of data point to the labor market stabilizing and improving and we should see that in the payroll numbers.
Elisabeth Denison
As long as the economic momentum remains strong, we believe they will still lean against inflation pressures with another rate hike.
Elisabeth Denison
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