This report is stronger than it looks and is consistent with the industrial recovery gathering pace,
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
The chairman will likely tell the House Budget Committee that conditions are set for recovery.
Ian Shepherdson
Skeptics will argue this is just a post-war bounce that won't last, but we disagree, ... The ISM was in the mid-50s before the war, thanks to very loose policy, and there's no reason why it can't return to those levels very soon. The Fed does not need to
Ian Shepherdson
The new Fed Chairman clearly expects to have to raise rates a bit further, but the extent of the tightening is dependent on the relative performance of the labor and housing markets.
Ian Shepherdson
This report will leave the markets still pushing for a Fed ease...but perhaps with a bit less conviction, ... It is still not a done deal.
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
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