It signals that the labor market has now moved again to center stage in the Fed's analysis and policymaking process.
More Quotes from Ian Shepherdson:
This hugely strong report will doubtless be cited as evidence that the housing market is not slowing. However, the extremely warm January weather surely distorted these data, just as it boosted retail sales and depressed industrial production.Ian Shepherdson
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,
Ian Shepherdson
This testimony did not give the impression that he is in a great hurry to cut rates immediately.
Ian Shepherdson
There is a specific reference in February to 'the pace of policy moves at upcoming meetings ... would depend on incoming data', suggesting a degree of potential flexibility that was absent from the December minutes,
Ian Shepherdson
There may be some adverse seasonal effects at work in the claims numbers, thanks to the late Easter, but the underlying trend is surely unfavorable, ... A reversal requires a quick and steep recovery in business confidence.
Ian Shepherdson
(These data are) bad news for (corporate profit) margins or future inflation -- or both,
Ian Shepherdson
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