Joshua Shapiro People Quotations

People were expecting the worst and I think the reaction you saw is that it wasn't as Draconian as many had feared. There wasn't any real hard table pounding or anything in the minutes that pointed to a 50-basic point hike at the next meeting.

I don't think we're talking about a recession or a near recession. I think we're talking about growth that is slower than people expected.

Everyone was so focused on the word 'measured' that they didn't expect them to update the rest of the language to be more aggressive, so that took people by surprise a little bit,

It was a good solid number, maybe not as high as some people were hoping, and not as bad as bonds had feared,

The Fed is not going to raise rates right away, even if the March numbers are really strong. They are going to wait until they get several months of very strong numbers, and for people to start really feeling that the labor market is improving before they raise rates.

If you get a big number next week, people will say great, the labor market is finally recovering, this is the last piece in the economic recovery, ... But they'll also say, well maybe now the Federal Reserve will raise interest rates sooner.