Bill Cheney Soft Quotations

We're not only stuck in a soft patch; we're spinning our wheels. To get back to full employment, we need a lot more demand, and that's hard to see coming anytime soon from either domestic or international sources.

This is a perfect jobs report. Job growth slowed significantly and there are absolutely no signs of inflation. Greenspan may be pulling off what once seemed impossible: two soft landings in one economic expansion.

The economy is neither roaring nor stalling; it's clearly out of the soft patch and moving along at a decent pace, and that's all the Fed needs right now.

It's too early to call a turn in the trend, so Alan Greenspan can't relax completely, but it's certainly the kind of report that will help him sleep better. There's still no sign of wage inflation and we seem to be heading for a soft landing: a smooth slowdown into sustainable non-inflationary growth.