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June 16, 2004

Fed: Inflation Tame, Hiring Strong

Bear in mind that the true predictor of inflationary trends strips out the frequently-volatile price of food, fuel, and cowbells:

WASHINGTON (Reuters) - The U.S. jobs picture showed signs of improvement in April and May, the Federal Reserve (news - web sites) said on Wednesday, as potentially worrisome wage pressures and consumer prices appeared tame.


"Reports from the Federal Reserve Banks indicate that economic activity in April and May continued to expand across the nation," the Fed said in its "beige book" report, an anecdotal look at the U.S. economy as seen through the eyes of its 12 regional banks.


"Employment activity continued to improve, with hiring increasing at a faster pace in most districts; meanwhile, wages and salaries experienced little or muted upward pressures," the Fed said.

"Many Reserve Banks reported modest increases in consumer prices, but most districts noted rising prices of inputs, especially energy-related products, building materials, and steel."

Steel. The lifeblood of the cowbell industry.

Key quote:

"Employment activity continued to improve, with hiring increasing at a faster pace in most districts."

That means we're looking for better than 300,000 jobs per month down the road.

300,000 jobs per month -- if it continues long enough -- means that Bush will actually create net jobs by November.

It also means that he'll be creating jobs at a much faster pace than the 10 million in four years promised by Kerry.

Vote for John Kerry

He promises to create fewer jobs than his opponent.

Rush Limbaugh notes that Bill Schneider has finally scooped the rest of the media on "the big secret" that the economy is actually doing "very well."

Blaster links that, plus he discovers that even two future Kerry-endorsers -- the Washington Post and Andrew "Flip" Sullivan -- have figured out that the economy is roaring.

Again, I'm unable to afford any cowbells at this time. However, I can offer a TOPPS trading card of C3PO sporting an erection:

Hey...! "Didn't you already do those last two jokes like three months ago?"

I believe in recycling. Don't you? Give me a break. How much mileage has Wonkette gotten out of the words "butt" and "sex"?


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posted by Ace at 02:43 PM

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