This may be the last bad PPI report we'll see for quite some time, ... This might be the height of this particular inflation scare.
More Quotes from Mark Vitner:
They would like to raise rates, but right now, keeping rates a little too low would cause the least harm in the economy. If they raise rates after this weak employment report, people will be hollering. George Bush would be hollering the loudest.Mark Vitner
There is no operating manual that says what a neutral fed funds rate is, but the Fed knows that it's higher than 3 percent,
Mark Vitner
Corporate America is on the mend. The only downside of stronger productivity growth is that it means hiring is lagging. As far as downsides go, this is roughly the equivalent of eating your broccoli. It may be tough to stomach at first, but it makes you stronger and healthier in the long run.
Mark Vitner
While it seems counterintuitive, higher gasoline prices are actually helping restrain core inflation, ... With more money being spent for gasoline, consumers have fewer dollars left for discretionary purchases. The net result is that firms are slashing prices on everything from cars to beer in order to move product.
Mark Vitner
When combined with the run-up in employee health-care costs, ... the inability to raise selling prices is the single most important reason that job growth has been lagging so much during this recovery.
Mark Vitner
It would create an awful mess in Florida, where the labor market is tight by any definition.
Mark Vitner
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