I know people are focusing in on the dollar, but if we take a look at last week's strong action, our view at least, is that the underlying economy does not warrant it.
More Quotes from Paul Nolte:
On a year-over-year basis, the inflation figures are not anything to be concerned about.Paul Nolte
The economic numbers are driving the bus. As long as the numbers remain kind of weak, if it doesn't look like we're getting much of a turnaround, then markets can continue to slide.
Paul Nolte
So what is an investor to do Based on Friday's response, it may yet be a long dark winter.
Paul Nolte
I don't see inflation as a big deal in the classic sense. There are no wage pressures and no cost overruns. We're seeing inflation mainly in the price of gas and other commodities,
Paul Nolte
You've got some positive news on oil, some negative news on Oracle and some mixed news from the producer price index. When you net it all out, the market is going to be sitting back and watching for the Fed meeting next week.
Paul Nolte
But whether the market is going to have the staying power beyond today, I think we will be able to determine that toward the close,
Paul Nolte
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