This is a sign that the committee is beginning to think aloud about shifting to a more neutral position - but the forecast of significantly slower growth will have to come first, ... For now, the elevated headline inflation rate and the tight pool of available labor remain bigger concerns, so the Fed's guard is still up.
More Quotes from Ian Shepherdson:
The survey has a good track record and the signal it is sending cannot be welcome at the Fed.Ian Shepherdson
We expect a drop to 390,000 next week, but an even lower number cannot be ruled out,
Ian Shepherdson
This level of the ISM is not consistent with recession,
Ian Shepherdson
The bottom line here is that industry is doing well.
Ian Shepherdson
There should be no doubt that Mr. Greenspan's view has changed he now believes the economy is turning rather than just approaching the turn,
Ian Shepherdson
Inventories remain very low and will add to third quarter and fourth quarter growth, too.
Ian Shepherdson
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