This raises possibility of a pass through into core inflation. While companies can absorb some of the pipeline pressures, the way to do so is productivity gains that we're not seeing anymore.
More Quotes from Drew Matus:
On a real basis the trade deficit widened by over 1.7 billion for the month and places the trade balance on a trajectory that would likely reduce fourth-quarter GDP growth by more than 0.5 percent.Drew Matus
It was exactly as the market expected, with them commenting on both the overall good news and the modest areas of weakness left in the economy. The Fed is on hold until August.
Drew Matus
The Fed keeps trying to walk the middle course, and unfortunately that gives ammunition to people who think the Fed should be raising rates more and ammunition to people who think the Fed should be done.
Drew Matus
There's no sign of inflation, and the labor market is still weak. There's still plenty of room from the Fed's point of view.
Drew Matus
These numbers are weak across the board. But of course, that's good for bonds. It just adds to the case for the Fed leaving rates low for a very long time to come.
Drew Matus
Don Kohn is the closest thing to a Greenspan clone that modern science has produced.
Drew Matus
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