A further deterioration in the labor market is inevitable. |
Actually there are two pieces of news. One is that although the market consensus was only 250,000, the bond market was fearing a much, much stronger report --hence the relief rally that followed the release of the numbers. |
And the signs since the fourth quarter suggest growth picking up in the first quarter more strongly than most people had anticipated. So I would say the recovery is here. |
As the job market gradually improves, it should easily support consumer-spending gains of at least 3.5 percent this year. |
Between you and me, you want to be the only one getting the pay raise, and not everyone else. |
Consumer spending, which [has] kept the economy afloat, should decline in the third quarter and lead us into a formal, albeit shallow, recession. |
For recovery to have any real oomph, capital spending will need to rebound. So far there are no signs of that, and we don't expect a turn until the first half of next year. So in the near term, the economy will probably remain soft enough to justify at least one more Fed move. |
Greenspan's testimony was balanced. We believe today's remarks were enough to think that the Fed will take a 'wait and see' attitude rather than ease one last time. |
He is extremely optimistic on technology, its impact on productivity and the benefits it has to our economy. We believe Alan Greenspan does not see any burning need to further tighten policy, assuming the economy is slowing as it has been indicating so far. |
I believe they are going to raise rates at least twice more after today. |
I think they may ease as soon as late January. |
I thought [the job report] confirmed it. I thought it depended on today's data. |
If the unemployment rate rises through July, as is entirely possible, the initial tightening will take place during the fall. |
In the first year of every recovery, inflation has fallen; and we think the core CPI will fall to 2 percent by year-end. |
It's appalling that the police department can enter into a contract that goes against the Constitution. |