Core inflation remains contained in November, albeit at the upper end of the Feds informal target range of 1-2 pct.
More Quotes from John Ryding:
Although the retail sales report was not as weak as expected, it does not change the picture of slowing consumer spending growth, especially since the auto sales data do not reflect Detroit's reality.John Ryding
If we hadn't had Asia, there's no doubt that the Fed's economic model, with 350,000 job growth per month in each of the last four months, would have forced interest rates up.
John Ryding
You have to remember it's only exceptional and prolonged heat that changes trends, since the Commerce Department seasonally adjusts out all typical heat. The game is to try to figure out if the weather is seasonally abnormal. Except for this week, we've had a pretty normal summer in the Northeast.
John Ryding
The management of communication here and the way things were said has, I think, undermined a little bit of Fed credibility for now.
John Ryding
From the Fed's perspective, slack in the production sector continues to diminish, which should maintain Fed concerns about upside risk to inflation.
John Ryding
The low level of jobless claims in January was believed to be partly due to unseasonably warm weather that would have resulted in fewer than normal seasonal layoffs. However, despite a return to more seasonally typical weather in February, unemployment claims have remained low.
John Ryding
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