There's a huge hurricane hangover. I think the government will have to trip over itself to decide whether to have a huge downward revision to last month or whether the job losses will take a bigger hit this month.
This is an exciting number, but it was warmer in November than usual. The warm weather is the equivalent of zero-percent financing on automobile sales. You're going to see this work itself off in months to come.
All this stimulus is going to work, ... just not overnight. It's probably going to take a couple of quarters to work itself out.
The auction also showed that foreign appetite for our securities remain voracious, which in itself is another positive sign.
Even though people thought this was a great opportunity to take the word 'measured' off the table, he didn't do that, ... It suggested that he was not at this point prepared to endorse the Fisher hypothesis. I think he's trying to make sure the Fed doesn't box itself in.