Bill Cheney
Bill Cheney
absolutely change conduct monetary setting
I think we're going to see absolutely more of the same. I don't think there will be any discernible change in the conduct of setting monetary policy.
net
Corporations may be ultra-cautious, but at least they're not slashing jobs, and that's a net positive.
absolutely bond bounce gaining ground headline lost market number trend underlying
The headline number is absolutely kind of a shock, I think the bond market is probably overreacting. It's a bounce back from September, but we're still not gaining back all the ground lost in September. The underlying trend is still kind of down.
consumer economy expansion keeping true
It's reassuring. It is true that the consumer is the only part of the economy that's keeping the expansion going right now.
bit lighter perhaps
Perhaps Santa's sleigh was a bit lighter than we thought.
job market
I think the job market is on a roll.
expect growth healthy next percent totally
I think it's totally a blip. I expect to see pretty healthy growth in 2006. We'll be back to 4 percent next quarter.
businesses competition cruel economic flat growth hard prices profits showing statistics wages year
Many businesses see statistics showing economic growth as a cruel joke. Competition is still brutal, wages are still rising, prices are still flat or falling, and profits are as hard to find as they were a year ago.
absence core few given good happening months pause rather risk seems time
Given the absence of core inflation, it seems to me as good a time as any to pause and see what's happening for a few months rather than overshoot and risk a recession.
certainty largely
But that's still largely a hope, not a certainty.
clear cutting economic outlook stronger whatever
I think it is clear that, whatever the economic outlook was on Monday, the outlook is shakier now, and there are stronger arguments for cutting rates.
bills continues economy impact last record remarkable
Considering the impact of the hurricanes and record heating bills last year, the economy continues to show remarkable resilience.
cutting fed number rates relax
This is kind of number that will let the Fed relax and keep cutting rates as long as they see a need.
awful dropped force people pulled though waiting work
Even though it's improving, there's still an awful lot of people who dropped out of work force and are waiting to be pulled back in.