MUFG Union Bank economist Chris.......>

US DATA REACT: MUFG Union Bank economist Chris Rupkey said that today's "ISM

nonmanufacturing survey shows executives are the most optimistic since the

recession ended. The index jumped 4.5 points to 59.8 in September. So much for

the idea that the economy was slowing down in its ninth year of expansion since

the end of the recession. Now the index has been a little on the unstable side

as it collapsed 3.5 points in July, a move that is not completely explainable." 

- He adds that "but for whatever reason, the index is pointing to stronger

growth and a better outlook later this year. If the Fed doesn't have a rate hike

on the agenda at the December meeting, it sure ought to. This economy is showing

no sign of slowing down and it is inappropriate to continue monetary stimulus

this late into the recovery. No other Federal Reserve in history has kept on

trying to prime the pump this late in the cycle."