This would provide the Fed some flexibility regarding future meetings.
More Quotes from David Rosenberg:
If the Fed is truly data dependent, then what matters most...is the data flow for the second quarter. What do we know about the second quarter Well, not that much, but what we do know suggests a slowing to around a 2.5 annual rate.David Rosenberg
For every pricing power story the Fed hawks and bond bears can find, we can probably match in the opposite direction.
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The first of the boomers turn 60 this year. They are about to retire, and they have been spending as if they were 30, for the last 30 years.
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There is no doubt that when I speak to hedge funds and real-money investors, they have some questions. They say that he has to prove his credentials right away.
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The Fed seems intent on raising rates through this Katrina business on the view that the pending rebuild stimulus will trump the near-term economic loss.
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What all this spells is inflation from barely 0 percent all the way up to something that doesn't even make it to 2 percent. This is an easy money policy
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