The number tells me a recession is coming, but it will be relatively mild in the wake of all the stimulus coming. But I would caution investors not to be so complacent as to think this could be bottom. It's going to be a lot uglier in the fourth quarter.
More Quotes from Anthony Chan:
There's always that danger that the Fed gets impatient here, ... But I think that most of the Fed governors today feel that gradualism is the best policy, because if they err on the side of doing too much, the price of being wrong is not so high.Anthony Chan
Consumer prices are really what you have to worry about, ... In the consumer price index, there seems to be some extreme resiliency on the service side, which is much larger than the goods side. There's no deflation on the service side.
Anthony Chan
Although the BLS failed to provide an estimate of what the hurricane did to this report, my research does show that in nine out of the last 10 largest hurricanes, payrolls softened by an average of 120,000,
Anthony Chan
More people are entering the labor force, so there is more competition. More competition means there's less leverage for employees.
Anthony Chan
I think this is an important first step for the central bank. They didn't want to lower rates too aggressively for fear of sending a signal to the markets that they thought things were completely falling apart.
Anthony Chan
It confirms the belief that the weakness in retail sales was the result of a bunker mentality in the wake of the terrible events of Sept. 11.
Anthony Chan
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