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Strategies & Market Trends : Mish's Global Economic Trend Analysis
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To: zonder who wrote (18603)12/15/2004 11:03:57 AM
From: RodgerRafter  Read Replies (4) of 116555
 
The latest statement does not, as you state, say:

"Labour market conditions APPEAR to improve GRADUALLY."

it actually says:

"and labor market conditions continue to improve gradually."

You can argue that the use of the word "gradually" makes them sound less optimistic about the economy and prone to pause in the future, but I would counter that recent data on the inflationary front and pressure on the dollar are much more alarming to the Fed.

To me, what goes on monetary injections is much more indicative of the Fed's position than the addition of the word "gradually."

As I posted on Mish's board at the Fool, the Fed boosted reserve credit by about $40 Billion over the last 4 months, mostly buying up treasuries with over a year left to maturity. In that way they kept longer rates down, while also helping to juice up the Money Supply in late October and November.

We'll learn more about the money supply and reserve credit on Thursday.
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