The economic growth rate will be so weak, combined with extremely good inflation numbers, that I just don't see them doing anything in 2002.
More Quotes from Robert MacIntosh:
We will get well into the second quarter before the job situation really starts to improve. That's typical of recoveries it takes a couple of quarters before the labor market starts to turn around.Robert MacIntosh
The number was a little higher than expected. I think the market will like it, but we are still talking about no growth here, and the trend is clearly down. The market is going to interpret this at first favorably, but a more rational interpretation is that it is pretty darn weak.
Robert MacIntosh
They wanted to give themselves some flexibility, which they didn't have with that language.
Robert MacIntosh
Inflation is not an issue right now. We're looking for inflation to be between 1 and 1-12 percent this year. It's typical that you see inflation come down and stay low for a while after you have had an economic slowdown.
Robert MacIntosh
Japan's big problem was that fiscal stimulus was not there. They haven't coordinated monetary policy with fiscal policy. That's what we're doing differently, and that's why we won't have the same problem.
Robert MacIntosh
Thursday's report is a sign that companies are in fact, to a small extent, ramping up production to get themselves restocked a bit in anticipation of recovery,
Robert MacIntosh
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