With three sub-300,000 numbers in the past four weeks, it is beginning to look as though there has been some real improvement in the labor markets this year.
More Quotes from Ian Shepherdson:
The Fed is now explicitly conducting monetary policy with the aim of supporting stock prices,Ian Shepherdson
The message from these claims numbers is strong and clear. The labor market is extremely tight.
Ian Shepherdson
The good news is that the expectations index is now more or less in line with the state of the stock market, so any further dips should be modest,
Ian Shepherdson
Clearly good numbers, reinforcing the Fed view that much of the spring rise in inflation was 'transitory' - but good CPI numbers alone will not stop rates rising slowly.
Ian Shepherdson
We remain of the view that the Fed's near-term objective is simply to support the stock market until consumer and business sentiment improves,
Ian Shepherdson
Mr. Greenspan clearly wants to leave the door open to lower rates, but he was more explicit this time in his acknowledgement that there are risks on the other side.
Ian Shepherdson
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