We're 11 months through the year and any measure of core inflation hasn't captured a filtering down of higher commodity or energy prices. That's why we continue to see the 10-year yield under 4.5 percent.
More Quotes from Kevin Flanagan:
This appearance has taken on heightened significance as we try to find clarity on whether the Fed will stop tightening after May 10th (policy setting meeting) or not.Kevin Flanagan
Nevertheless, fourth-quarter growth was far more than anybody was looking for, and it is something that's going to keep the (Federal Reserve) on notice that growth is eclipsing their expectations by a visible amount.
Kevin Flanagan
The Fed statement is a neutral to slightly friendly development, ... The fact that they maintained neutral directive helps, but doesn't mean they can't tighten again.
Kevin Flanagan
The market had gotten itself into a position where the thought process was the economy was cooling off a bit and the Fed was close to being done raising interest rates. These numbers threw a wrench into the works.
Kevin Flanagan
I think you're seeing an enthusiastic response by the bond market because there appears to be a slight deceleration in economic activity, ... In order to continue to improve we'll need to see further signs of that slowdown.
Kevin Flanagan
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