Ian Shepherdson Quotes
This will doubtless shock the markets, and makes an October rate cut more likely, but it does not change the outlook for a near-term recovery... Falling employment, rising unemployment lag activity. These numbers reflect the second quarter economic stall. 
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Doubtless | Shock | Markets | October | Rate |
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With the fastest productivity growth and biggest drop in unit labor costs in seven years, the numbers are certainly worth shouting about, but as yet we are far from convinced that much of the improvement is structural. Mr. Greenspan is of the same view, which is why rates are going up no matter what happens to productivity growth.
- Ian Shepherdson
