The new figures will reinforce the views now emerging among policy-makers that the economy has more inflation resistance than in the past. The gains also dampen the likelihood of (Fed interest rate) adjustments down the road. However, the new data does not assure that the Fed is done for this cycle.
More Quotes from Michael Moran:
It's extremely important. I think it's going to have an important bearing on what the Fed decides to do with its monetary policy.Michael Moran
There's a firm belief in the financial markets that inflation is under control and is not likely to emerge as a problem.
Michael Moran
The numbers suggest we're seeing a weak holiday shopping season. We could see a late surge, but the early portion of the month is looking slow.
Michael Moran
I am looking for a 25-basis-point increase in the federal funds rate. The primary reason is because the unemployment rate has moved to a low level, and that low unemployment rate is starting to push the growth of wages higher. That is an early warning sign.
Michael Moran
The real challenge on the energy front hasn't hit yet because it's not winter. When people start to get high heating bills, it will be another story.
Michael Moran
When rate increases are demand-driven, meaning there are other, positive influences going on -- job growth, demand picking up, etc. -- in that case, the effect of higher interest rates is a small dampening, rather than one that puts the economy at risk,
Michael Moran
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