Even though there probably is a recovery in the pipeline, there isn't going to be any clear evidence of it by the time we get around to the next meeting.
More Quotes from Bill Cheney:
A lot of people must still be sitting on the sidelines. This kind of job growth will encourage them, but I don't see it sparking a surge in wage costs. We still have a lot more room for job growth before we have to worry about venturing into dangerous inflationary territory.Bill Cheney
This is consistent with the view that the U.S. economy really is on the road to recovery. Consumers are not pulling back. Consumer spending is going to get us into a second half 2001 rebound.
Bill Cheney
If even 5 to 6 percent GDP growth isn't enough to get any net hiring, then the risks rise that the stimulus from the tax cuts and defense spending could produce a one-time boost that will fizzle out next year.
Bill Cheney
The good news for workers is that productivity growth cannot continue at this pace. Demand will translate into jobs very soon, and in fact I think it's happening right now.
Bill Cheney
We've gotten to a point now where inflation is something which, for the most part, we don't really think about. And I guess that's exactly the way Federal Reserve Chairman Alan Greenspan wants it.
Bill Cheney
What worries me the most is a slip backward becoming a spiral downward. Jobs are the linchpin of both consumer confidence and consumer spending. We can't sustain many more losses like this without that downward spiral getting started. This is the kind of data that could make the Fed think about easing again.
Bill Cheney
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