Bill Cheney Quotes

You are seeing a large number of people coming out of the woodwork because there are jobs to be found. People are now looking for jobs because it is now worth looking. - Bill Cheney

With today's report, the odds of a negative quarter of GDP growth have increased substantially, and the chances of a full-fledged recession just went up -- perhaps approaching 50-50. Job losses cut directly into the spending of the newly unemployed, and indirectly tend to have a very real impact on the confidence of those who are still working. If demand falls, firms will lay off more employees, and the downward spiral could put us over the edge into a bona fide recession before the Fed's actions can take effect. - Bill Cheney

With the war over, energy prices declining, and fiscal and monetary stimulus already pumped into the system, I'm with Alan Greenspan in expecting that the economy now will begin to perk up. - Bill Cheney

With the U.S. slowdown looking more real each day, the trade deficit may have passed its peak. The slowdown hadn't hit full force yet in October. U.S. consumers are still sucking in massive amounts of imports. The slowdown will be more clearly seen in November and December's figures. If imported goods start to pile up on retailers' shelves this holiday season, imports could drop off fast. - Bill Cheney

With the tide turning on job growth, consumer sentiment going into the holidays is far better than last year, even if it's not quite happy days are here again. - Bill Cheney

While we're still skating on the edge of recession, I think the outlook for the economy is now quite encouraging. We may not feel great right now, but if a recession is a nasty case of the flu, the good news is that all we're suffering now is just a really bad cold. - Bill Cheney

While the labor market may feel like the weakest link in the recovery, really it's the last link. As long as employment doesn't collapse, the recovery will continue to gain strength. As it does, slowly jobs will be added and they will be the fuel that kicks the economy into a higher gear. - Bill Cheney

When demand does start to rebound, the Fed will have to deal with the delayed effects of a year of aggressive monetary stimulus. Short-term rates will almost certainly have to rise faster and farther than seems credible today. Of course, this is a problem that we now feel we would enjoy facing. - Bill Cheney

What worries me the most is a slip backward becoming a spiral downward. Jobs are the linchpin of both consumer confidence and consumer spending. We can't sustain many more losses like this without that downward spiral getting started. This is the kind of data that could make the Fed think about easing again. - Bill Cheney

We've gotten to a point now where inflation is something which, for the most part, we don't really think about. And I guess that's exactly the way [Federal Reserve Chairman Alan] Greenspan wants it. - Bill Cheney

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