Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (29482)	5/6/2005 8:58:17 AM
From: redfish	Read Replies (1) of 116555

Yeah but it gets the talking heads chatting up rate hikes again which suits my purposes: WASHINGTON (MarketWatch) -- The surprisingly strong April job report should ease concern that the soft-patch the economy hit in market would turn into a prolonged downturn, said Michael Gregory, economist at Nesbitt Burns in Toronto. The data "casts some doubt as to whether the soft-patch would be as big a deal as some people thought," he said. The Fed should remain on a gradual rate patch for most of the year, with the Fed funds rate hitting 4.0% by year-end. Financial markets had lowered their year-end Fed funds forecast to 3.75% given the weak economic data in March. "With today's number and the spending that will go along with it, I think a lot of people may ratchet their forecast back up to 4.0% again," he said. Amazing what these guys can deduce from a more or less random number, Sherlock Holmes got nothin' on them.

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