So too should the relaxation in fiscal policy which started with President Bush's tax rebates this summer and which seem set to continue with a substantial stimulus package now working its way through Congress.

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In exchange for a more substantial energy-bill savings (5-10% of the summer's air-conditioning tariff), participating customers agree to an "Auto-Tune" of their Nest, a three-week adjustment period where the algorithms plan a regime that routinely rejiggers air-conditioning use during the day.

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That is a substantial amount and seems particularly bullish given that we are in the mild springtime, but before the summer driving crush.

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"I expect we will meet the test for substantial improvement in the outlook for the labor market by this summer, " Mr. Williams said in a speech in Los Angeles.

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