The NAPM report provided strong support for the economic slowdown view, focused in basic manufacturing, and also clearly suggested the peak in core inflation is drawing near, ... This gives added weight to the possibility that the Fed will ease in the new year.
More Quotes from Sherry Cooper:
Worry not, the longest expansion in American history still has legs.Sherry Cooper
The big dip in inventories is a good sign if we are looking for a glimmer of hope here. Maybe we are at a stage where production can pick up again.
Sherry Cooper
Birth rates would plunge and the average age of the population would increase significantly.
Sherry Cooper
We wouldn't want everyone to go running out and dump all their investments and bury cash in their mattresses, because it would only accelerate the crisis - at least the financial crisis. But I don't believe people would do that anyway.
Sherry Cooper
Bearing in mind that the Fed wants higher inflation, the news is not unwelcome. And the market will remain firmly in the camp that the Fed will not tighten soon, ... Nevertheless, the risks from the PPI are easy to see and look real in light of the big decline of the dollar and rise in import costs that preceded them.
Sherry Cooper
On balance, headline inflation has likely peaked, but the core rate is at the top end of the Fed's comfort zone, which will keep chairman Allan Greenspan's foot firmly on the brakes,
Sherry Cooper
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