There is more bad news to come in May. Gasoline will be up sharply, and tobacco will be up.
More Quotes from Stephen Stanley:
There is no signal that the Fed is nearing the end (of its tightening cycle), and that's been the one consistent thing.Stephen Stanley
If what we see in these surveys is truly the case, then there will be a clash in the boardroom as these two decide how best to move the company forward.
Stephen Stanley
The Fed will have to take rates beyond neutral to a somewhat restrictive pace. Today's data totally supports that view of the world and should...eliminate any doubts about the near-term course of monetary policy.
Stephen Stanley
Fed officials have made clear that their heightened inflation concerns are related more to the outlook than the present situation. Thus, inflation fears have intensified even as core measures of prices have been exceedingly well behaved.
Stephen Stanley
The indicators of prices ... are beginning to point more clearly toward inflation pressures.
Stephen Stanley
The crux of the statement was unchanged (from the last meeting). They said that policy remains accommodative, but that the central bank will respond to changes as needed. That's been the mantra since the tightening period began last June.
Stephen Stanley
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