There's little doubt out there that Greenspan will move this time around and try to put the brakes on growth a bit. The question is whether this is a one-time deal or a continuation of a series of moves meant to really keep the economy in line.
More Quotes from Michael Gregory:
The fact that we've had some decent growth, as long as it isn't associated with inflation risk, is generally good for equity markets. But we did see that wage pressure remains elevated. From that perspective, (the report) is neutral.Michael Gregory
The construction sector continues to be a contributor to Canadian economic growth, which should make the Bank of Canada feel a bit more comfortable about any forthcoming rate hikes.
Michael Gregory
I think a lot of people's perceptions are still affected by the bubble years. If you take away that four-year period when the unemployment rate was lower, you have to go back some 32 years to find an unemployment rate lower than it is right now.
Michael Gregory
There is a lot of momentum in this economy. Consumer spending is continuing to march along, business spending is solid and you have a pick up in foreign demand.
Michael Gregory
That's certainly going to be the critical number. A number indicating employment growth, particularly increases in wages, could prompt the Fed to move by the end of this month.
Michael Gregory
Do they really want to end the party Of course not, ... They want to tone the party down before something gets broken or damaged, or worse, before someone gets hurt. It's similar to a marathon if you pace yourself properly you can get to the end without overexertion. That is what the Fed is trying to do here.
Michael Gregory
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