Unemployment has drifted further below 5 percent, and at those levels you have to start being concerned about bidding up of wages. There's a compelling reason to hike interest rates at the next meeting.
More Quotes from Michael Woolfolk:
The event risks associated with the upcoming meetings in Washington are decidedly U.S. dollar negative.Michael Woolfolk
Strong growth and tight labor-market conditions argue for preemptive tightening that could very well take the federal funds target rate above 5 later this year. This is viewed as a dollar positive.
Michael Woolfolk
The market is happy with the number as it shows strength in Canada's economic growth. Investors are willing to buy the Canadian dollar.
Michael Woolfolk
If unemployment dips any lower, that may indicate some wage inflation and the Fed will likely continue to raise rates.
Michael Woolfolk
This has had a psychological effect on the markets. For those of us left in the office, we're just watching to see just how high the 10-year will go today.
Michael Woolfolk
Market players don't want to be caught the wrong way here going into a very heavy data week in the U.S..
Michael Woolfolk
Readers Who Like This Quotation Also Like:
Based on Topics: Unemployment QuotesDo not be desirous of having things done quickly. Do not look at small advantages. Desire to have things done quickly prevents their being done thoroughly. Looking at small advantages prevents great affairs from being accomplished.
Wilson Mizner
I've never tried to block out the memories of the past, even though some are painful. I don't understand people who hide from their past. Everything you live through helps to make you the person you are now.
Sophia Loren
Bishop Berkeley destroyed this world in one volume octavo; and nothing remained, after his time, but mind; which experienced a similar fate from the hand of Mr. Hume in 1737.
Sydney Smith