I think (Fed officials have) found that they're in a lucky position where the inflation numbers are good enough that it's bought them some time (to postpone rate hikes),
More Quotes from Alan Ruskin:
For the Fed, I don't think it changes much. It's not weak enough that it would change their measured tightening path.Alan Ruskin
The Fed is still in the game, and the odds of it easing again are higher than the 50-percent probability the implied yield on Fed funds futures had going into these data.
Alan Ruskin
The problem with inflation targeting is that it carries with it a risk of less flexibility at times, and that could be problematical. But it also makes policy less of a black box, so policy is likely to be more transparent.
Alan Ruskin
Poor employment trends clearly are weighing on sentiment, ... The (IBD) data is consistent with a meaningful decline in the Michigan survey.
Alan Ruskin
The labor market has not accelerated to the extent one might expect, judging from past cycles, and we probably won't see evidence of it again in the December numbers.
Alan Ruskin
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