Conrad DeQuadros
Conrad DeQuadros
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Gains have been broad-based, and that's encouraging because the fact that the increases in employment are not dependent on one particular industry suggests that this improvement in job creation is on a sustainable trend.
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The trend in orders is actually accelerating. It shows manufacturing in on firm footing in terms of inventories and eventually hiring.
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The Fed will keep raising rates as an insurance policy to prevent unwanted inflation. We haven't seen a tightening of financial conditions.
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I would say that the reports we've had on the labor market over the past three months are more than enough to convince us that the recovery in the labor market is truly in place,
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The speech quietly signaled a 25-basis-point (quarter percentage point) rate hike in February, and was consistent with a further rate increase in March or May,
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Consumers have hung in there and done better than people expected, It's really going to be more about businesses.
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Greenspan gave the best rationale yet for higher rates -- and it is one that we agree with. His speech should ruffle no feathers, which leaves the equity market free to move higher and suggests that bearishness on bonds should not be overdone.
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While the Fed's rate hike yesterday (Tuesday) may seem to have diminished reaction to today's (Wednesday's) CPI report, it will nonetheless be important,