Bill Cheney Number Quotations

Given the volatility of the report, I don't put a lot of credence in the forecasts. The headline number is the news and the fact that it went up signals that the recovery isn't falling apart.

There is a certain appeal to going to a nice round number like 5 percent. But if we get some bad inflation numbers, then they won't stop at 5 percent.

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.

The bottom line is, any number over 50 is encouraging. The fact that it's a little less than the consensus was expecting I don't think is that big of a deal.

The retail sales number is perhaps more important than it would look at first sight. Since we're coming so close to the Christmas shopping season when most of the retail sales of the year happen, anything that represents a gauge of consumer sentiment and consumer buying patterns is going to be latched onto by the retail industry as an important indicator.

This is kind of number that will let the Fed relax and keep cutting rates as long as they see a need.

The headline number is absolutely kind of a shock, I think the bond market is probably overreacting. It's a bounce back from September, but we're still not gaining back all the ground lost in September. The underlying trend is still kind of down.