Payrolls were well below the whisper number, so there's been a big sigh of relief in the market,
More Quotes from Ethan Harris:
This is a feel-good report. When you get a strong growth number and a low inflation number, it's hard to get a better combination than that for the economy.Ethan Harris
If job growth is just 50,000 a month, you can be sure that the unemployment rate is going to rise at some point in the coming months.
Ethan Harris
We are expecting a reading that is similar to Friday's producer price index, a very benign inflation rating. Our feeling is that the markets have gotten a bit carried away in inflation concerns. They've heard Greenspan say that inflation is showing up on the radar screen and they're waiting for it to show up any day now. But the inflationary picture remains just as good as ever.
Ethan Harris
What we're looking for is evidence of the corporate side of the economy gaining confidence and making real commitments in its own spending. There, I'd say the news is at best mixed,
Ethan Harris
The market is getting lulled into sleep here. In reality we think that both the inflation numbers and the growth numbers will keep the pressure on the Fed.
Ethan Harris
Even in a healthy economy, you have layoffs, ... The Challenger number is more useful as a story telling device than an indicator.
Ethan Harris
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