There was no comment on future Fed policy, but ... with no inflation risk, Mr. Greenspan can wait until recovery is secure. In the meantime, rates are on hold.
More Quotes from Ian Shepherdson:
If claims remain anywhere near this week's level, they will send a very strong signal that the labor market is tightening.Ian Shepherdson
Given the huge decline in consumer confidence, this (gain in spending) does not seem unreasonably weak, especially with consumers' real after-tax income growth slowing too.
Ian Shepherdson
A clearer demonstration of the unpredictable havoc Easter plays with seasonal adjustments you could not hope to see,
Ian Shepherdson
We have no real idea what the number next week will be, but we can be pretty sure that for the next few weeks the data will tell us next to nothing about the state of the economy across the country outside the areas hit by the storm.
Ian Shepherdson
It is tempting to blame the softness of core sales on the surge in gas prices, but we think it is too soon for that.
Ian Shepherdson
There is nothing to be scared of here. When you take out several one-time gains including apparel, tobacco and lodging, prices were almost unchanged.
Ian Shepherdson
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