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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: Jerry Olson who wrote (38186)	4/6/2001 9:03:20 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Recession with 4.3% unemployment!! and hourly earnings were higher than expected at 0.4%!! This was a very expected number, I know a 'strong number' would be sold because we cannot get a cut, weaker number would be sold because we are suffering from pre-recession! But recession with 4.3% of unemployment? Little unheard of, pre-recessions are marked with 5.5% levels, until 99 below 5% employment was considered always to be 'inflationary' not recessionary, that is economic history and that iso ne reason FED ws tightening so hards. Now productivity has given new dimension to this whole employment front, I would be happy to see FED only cutting if other economic evidence corroborate, they would be interestingly looking at hourly earnings, higher hourly earnings does not coincide with pre-recession scenerio, right now market is weak as they are lost and they have to be because reading this correctly needs no bias..I don't see any recession I see a economy that is paying top $ in this market where employment is easing at 3.9% FED was very worried..