If sharply higher interest rates, and a plunging Nasdaq make people more optimistic, we are at a loss to know what it will take to depress confidence,
More Quotes from Ian Shepherdson:
My guess is it won't be very exciting because he already told us three weeks ago what he thinks. He's certainly not going to say anything that suggests the Fed might be thinking about not cutting rates as soon as the market thinks but I don't think he'll want to give the impression that they're going to slash rates even more aggressively.Ian Shepherdson
It signals that the labor market has now moved again to center stage in the Fed's analysis and policymaking process.
Ian Shepherdson
These are spectacular numbers and confirm that the labor market is not at the moment the source of anything that could be plausibly described as inflationary pressure.
Ian Shepherdson
Our forecast was undone by two factors. The impact of the post-Katrina spike in oil prices is lingering it will eventually fade. Second, trade in goods ex-oil and aircraft -- core -- deteriorated again.
Ian Shepherdson
The bottom line here is that industry is doing well.
Ian Shepherdson
We expect a drop to 390,000 next week, but an even lower number cannot be ruled out,
Ian Shepherdson
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