It is a little concerning. The implication here is that over-valuation is becoming more prevalent. There is no disputing that price increases are far outstripping income gains.
More Quotes from Richard DeKaser:
It's still a welcome number. It showed sustained labor conditions outside of the areas impacted by the two hurricanes.Richard DeKaser
I think it's indisputable that demand in the housing market has declined in the past few months. It's very clear that rising interest rates figure very large in that decline.
Richard DeKaser
Consumers continue to persevere in a difficult environment in light of high oil prices. With prior revisions and trade (data) this is going to push Q3 GDP estimates closer to 4.0 percent.
Richard DeKaser
On the whole this will assuage some of the concern that's been bubbling up about inflation since the start of the year and should keep the Fed on its measured path for now.
Richard DeKaser
This is a very favorable report. In the context of what we've seen in the recent past, the Fed is right to say that inflation has been quiescent. It gives them more latitude to forestall an inevitable rate hike.
Richard DeKaser
This locks in strong odds of a January move. March is still a toss-up. I think the Fed in its own admission is in the neutral zone.
Richard DeKaser
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