----- Original Message -----
From: "Doug Henwood" <dhenwood at panix.com>
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>
>So, if I can translate econo-speak accurately, they want to
>throw more people out of work to keep wages (and thus
>the risk of inflation) under control. Or am I being too cynical?
Not yet. We're not at that point. Labor markets are still too slack.
Doug
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They seem more worried about all the bonds held by non-US govts. and the $ in forex markets, no? Unit labor costs are still falling, right?
Ian