We're talking about the difference between a little below and a little above, but the number is consistent with the view that we're going to see payrolls flat to lower in August.
More Quotes from Gerald Cohen:
Business intelligence continues its proliferation across the enterprise and we have witnessed the evolution as BI has made its way out of the back office and onto the shop floor, the home office, and the sales field. For the past 30 years we have provided customers with cutting-edge technology and innovative strategies to support organizational success. The advent of portable business intelligence builds on our pioneering spirit and commitment to customer requirements.Gerald Cohen
A self-sustaining recovery depends on job growth. And I think we will get some going forward.
Gerald Cohen
The decline in inventory suggests that production will start to ramp up and should lead to a pick up in growth going forward.
Gerald Cohen
My favorite indicator - my deserted island variable, meaning this is what I'd ask for if I were on a deserted island - is the Treasury yield curve. That's telling you we're expecting very strong growth over the next four quarters, albeit in the second half of next year.
Gerald Cohen
It's consistent with the view that things are not good now, but there's the potential for a pickup. The only question is what the magnitude of the pickup is going to be, and we're not as sanguine as Greenspan is about that.
Gerald Cohen
I think the Fed is on hold tomorrow and for the foreseeable future. We've actually been proponents of the view for quite a while that the economy was going to moderate, and it was important for the Fed to be patient. And one of the dangers was if the Fed kept raising rates, that they would slow the economy a lot more than they would want. So we think that there are enough signs of moderation that the Fed will remain on hold, and we think that signs of moderation will continue. So we think the Fed will be on hold through the end of this year and into early next year.
Gerald Cohen
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