The market liked what it didn't see. The market got itself worked up about the Fed possibly being more aggressive about inflation and when that didn't appear in the minutes, investors then focused on a relatively benign view of inflation.
More Quotes from Drew Matus:
His speeches are well thought out. After Greenspan, he's the one whose comments are most closely watched by the markets.Drew Matus
An extraordinarily weak figure for August. As a result, we are lowering our Philadelphia Fed survey forecast to 18.0.
Drew Matus
We're right where they want us to be -- between 2 and 2.5 percent increases in the core CPI. But last year there was more inflation than they were anticipating at the beginning of the year, and the concern you hear being expressed is that they don't want that to happen again.
Drew Matus
When you have MA activity, strategic decisions are being made, and that's a development that only occurs when people are very confident and looking towards the future. That will help the economy, and we will have hiring.
Drew Matus
Higher oil increasingly will creep into the indicators. Today, it biased the trade gap higher and pushed up import prices and also impeded the consumer sentiment number.
Drew Matus
Looking ahead, we can't see what is going to cause a downturn of enough significance to take inflationary pressure out of the economy and cause the Fed to stop raising rates.
Drew Matus
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