Adam Blankman Quotations

These are important numbers, particularly the one on employment costs. There's some concern about rising wage costs and rising prices and I think the market is really going to be on alert for that.

Wage pressures seem to have subsided. However, ongoing solid growth and indications of price acceleration in certain segments of the economy could leave chief sleuth Greenspan with plenty of gum on his shoe.

Now that the world economy is on firmer footing, investors have grown skeptical that rapid growth can coexist with tame inflation.

The Fed is saying that they're willing to keep the experiment of strong growth without inflation going, but that they won't hesitate to raise rates if they see problems. Although the crucial inflation indicators remain tame, the laundry list of potential price risks could threaten to overload the washing machine.

The Fed has a tough job on its hands.

Despite the moderation in the overall index and in some of the more closely followed components, the overall tone of the report is that the manufacturing sector continues to grow at a solid rate.