Since the economy is softening, I expect inflationary pressures to subside. The door is still open for the Fed to continue easing rates, as necessary.
More Quotes from Oscar Gonzalez:
The overall trend is still pretty dismal in terms of imbalances between imports and exports.Oscar Gonzalez
The report isn't so tame as to deter the Fed from bumping rates another notch, especially with Y2K fears dissipating and consumers showing no signs of fatigue. However, it should ease market fears that the Fed will need to tighten several more times.
Oscar Gonzalez
We're finally getting consistently good news on the labor markets and even an occasional positive surprise like today's report.
Oscar Gonzalez
All eyes will now shift to next week's employment report. The figures we've seen over the past few weeks suggest it will be quite weak. The report may be enough to push the Fed into giving the economy another shot in the arm at their next meeting.
Oscar Gonzalez
I don't think recent price data suggests that inflation is dead. The Fed has to worry about whether or not it is keeping inflation under control and it would probably like to err on the side of caution.
Oscar Gonzalez
The longer we go along this path, the clearer it becomes that the Fed may have to jolt consumers and investors with a more aggressive policy,
Oscar Gonzalez
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