I lean toward a half point instead of a quarter. The Fed wants to shore up confidence, to show that, unlike the European Central Bank, it feels your pain.
More Quotes from Cary Leahey:
The PPI number had some pipeline pressure underneath the surface, but the market liked the fact that the core rate was up only 0.1 percent,Cary Leahey
I wouldn't make a lot out of those figures.
Cary Leahey
But ... the trend in unit labor costs is still declining and I would argue that the market and the Fed will say that this is a one-time surge.
Cary Leahey
We're not talking about large sums of money. It is ironically only worth a couple of dollars to the Social Security check of the average American. They may be able to knock back a cold beer in a cheap bar.
Cary Leahey
Economists have to worry that if consumer sentiment remains depressed, spending could follow that down and you could have a much weaker outcome (in terms of economic growth.
Cary Leahey
It's certainly an impressive number, it's the lowest since early 2001.
Cary Leahey
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