Robert MacIntosh
Robert MacIntosh
Sir Robert Reynolds Macintoshwas a New Zealand-born anaesthetist. He was the first professor of anaesthetics outside the United States...
bias bit change cutting early maybe meeting next risk suspect
It's probably a bit early to change the bias to neutral. I suspect they'll say there's still more risk of another downturn than there is for too much of an upturn. Maybe the next meeting is when you have them take away the cutting bias.
clearly darn growth higher interpret market number rational talking trend
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.
again companies confident economy existing function grinding hire ramp running wanting
That's a function of companies wanting to feel confident that the economy is up and running again before they hire back. If they do want to ramp up activities, they do it by grinding more out of existing people.
hit people
It's not pretty. A lot of things just hit people today.
themselves
They wanted to give themselves some flexibility, which they didn't have with that language.
chance either factories means numbers pay producing sales
This is one of those numbers that can kind of go either way. It means factories are producing more than they would have been, but if sales don't show up, then they have to pay it back. There's always the chance that doesn't happen.
fall hard
It's hard to fall any more if you're already on the ground,
closer fed next
The Fed is that much closer to being done. I think they are done after next week.
closer fed
The Fed is much closer to being done.
fed
The Fed is going to keep chugging along.
certainly fed fighting gives inflation
The Fed is certainly fighting inflation right now, and this probably gives them a little more oomph to fight.
beginning economy fed inflation job until worries
The Fed will be more upbeat, but there's still a long way to go before they make any move. This economy is just beginning to really grow. Until we get real job creation, there will be no inflation worries -- and we're not there yet.
chance gone instead maybe odds percent predicting
I'm not predicting a double-dip recession, but the odds of it have gone up. Instead of 5 percent, there's maybe a 15 or 20 percent chance of it now.