There's no question that these numbers have been persistently disappointing in recent weeks, ... It's not that layoffs are accelerating again -- we think the underlying trend of claims is stable at about 390,000 -- it is that we expected clearer signs of an outright decline in the number of claims.
More Quotes from Ian Shepherdson:
His testimony leaves us thinking that a June 25 easing is far from a done deal -- it will depend on the data,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
He used the word 'pre-emptive,' which was the signal he used before the March 1997 rate hike.
Ian Shepherdson
The labor market is tightening, but the tightening is not accelerating.
Ian Shepherdson
Mr. Greenspan said next to nothing about the current economic situation in his testimony, ... does not sound to us like a signal he has changed his mind on the appropriateness of the current level of interest rates. The rest of the testimony was a clear and unambiguous plea to Congress not to abandon fiscal discipline.
Ian Shepherdson
At least economic activity is no longer 'decelerating,' as reported in the previous beige book,
Ian Shepherdson
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