Policy-makers have been worried that rising energy costs could lead to higher prices for other things including higher wages and compensation, but it looks like companies are keeping their employment costs in check.
More Quotes from Gary Thayer:
It's a good number for the economy. Labor markets are improving, and that increases the likelihood that the economy will remain strong.Gary Thayer
It's sort of a good news-bad news situation though, because if it gets out of hand, it can create other problems for the economy.
Gary Thayer
Now that we're in a more open economy, and there's a lot more opportunity to get goods from overseas, if manufacturers are operating at full capacity, there's less likelihood that somebody will bid up prices at a domestic producer if they can get it somewhere else.
Gary Thayer
This report leaves the door open for a rate cut. There's still uncertainty out there, and as a way to sort of offset the uncertainty, the Fed will do more than it may need to do.
Gary Thayer
There's still a lot more inflation fear than there is inflation. There is still concern that the economy could generate inflation at some point but it still doesn't seem to be doing that. The Fed doesn't need to act more aggressively, but it doesn't mean that they won't.
Gary Thayer
It speeds up the time that the Fed will probably think about raising rates and that's negative for fixed-income.
Gary Thayer
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