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.
More Quotes from Oscar Gonzalez:
Until businesses feel a real need for more hands-until productivity alone won't allow them to reach their earnings goals-they won't begin hiring.Oscar Gonzalez
Even though the numbers are soothing, the Fed still is on high alert for a future flare-up in prices,
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
I would think the probability of a move (on interest rates) would be somewhere around the 40 percent range.
Oscar Gonzalez
There is evidence that the weakening dollar also is beginning to have a positive effect. This is a good sign both for the future of our exports and for our hope to narrow the trade gap.
Oscar Gonzalez
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.
Oscar Gonzalez
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