Anthony Chan
Anthony Chan
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What investors should realize is that the hostesses have been recruited to start removing the punch bowls from all Fed reception rooms and will soon be out full in force and ready to continue raising short-term rates well into 2003.
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Yields at the auction came at levels that were not lethal to the stock market. Overall, it is somewhat encouraging for equities.
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This will certainly heat up the debate at the central bank,
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This shows the labor market in not overheated. And you can see that in, yes, not a lot of people are getting raises.
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Today's Fed rate cut and directive clearly reflects the fact that the Fed is coming to the end of its rainbow and therefore wants to ensure that it still can convince financial markets that it still has further flexibility to do more if it needs to.
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Today's employment report also has sustainability written all over it.
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We know those numbers were contaminated because of the hurricanes. After you adjust for the hurricanes, you come away with a fairly strong employment outlook.
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This would provide another pillar of support for the view that the economic recovery in the year ahead is likely to be gradual,
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The prospects of 4 percent real GDP growth (or possibly more after future data revisions) during the third quarter are back on the table,
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Today's comments will go a long way to dispelling the idea that the Fed is in a rush to raise short-term interest rates.
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Usually the devil is in the details. With this report, the greatest fear is that details of true labor market conditions will be found over the next couple of months instead of in this report.
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Wages have stagnated over the past couple of years; employers have no incentive to change wages. Eventually we will see incentive packages moving more closely in line with growth in the economy, but it's not going to happen soon.
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With the surprise jump in new home sales and the outsized rise in existing home sales, we now see that widespread talk of the demise of our moderate economic recovery has been somewhat exaggerated.
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We have almost 500,000 people in the New Orleans area and you have a less than 80,000 increase in claims. We are going to have a lot more than that. Clearly a lot of people can't yet file claims.