I think they'll hold unless we see some surprisingly weak economic data on the jobs front, which comes out on Friday. But absent that, I think the Fed is going to be tempted, having cut rates three times, to let things sit a while.
More Quotes from John Ryding:
The low level of jobless claims in January was believed to be partly due to unseasonably warm weather that would have resulted in fewer than normal seasonal layoffs. However, despite a return to more seasonally typical weather in February, unemployment claims have remained low.John Ryding
The decline in productivity was a quirk of the slow growth of GDP in the fourth quarter, which we expect to rebound in the first quarter.
John Ryding
Core inflation remains contained in November, albeit at the upper end of the Feds informal target range of 1-2 pct.
John Ryding
With the Fed maintaining an economic-weakness bias, Greenspan is more likely to be concerned with the signs of further economic weakness in this report rather than worrying about the increase in average hourly earnings.
John Ryding
We see the funds rate rising to 5 by the May 10 FOMC meeting and we see an increasing risk of a 5.25 fed fund rate by the middle of the year.
John Ryding
There are obviously going to be losers and there are going to be winners from the stronger dollar. The U.S. consumer is the clear winner.
John Ryding
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