The core PCE price index is a calming influence on the bond market. Inflation so far has far not gotten out of hand.
More Quotes from Patrick Fearon:
The fact that (core inflation) has been on a downward trend for two months is more evidence that Fed policy-makers might stop raising interest rates sooner rather than later.Patrick Fearon
It's certainly lower than expectations so in that sense it was a disappointment, but the key thing is that this is still appreciably better as a growth rate than the long-term average, which is only about 3 percent,
Patrick Fearon
It was a little weaker than expected but still a pretty decent number, ... In fact, the August (housing start) figure was revised up to 2.02 million, and that's a new peak for this economic cycle.
Patrick Fearon
Even though that was an 11,000 increase, you have to say claims remain relatively low and certainly in the range we would expect in a strong labor market.
Patrick Fearon
We still think that the growth rate will slow substantially in the fourth quarter, in part because the housing sector is softening which will tend to soften consumer spending as well. That is one factor that will probably help the Federal Reserve eventually conclude its monetary tightening cycle.
Patrick Fearon
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