Bruce Steinberg
Bruce Steinberg
economy economy-and-economics fed october remains
The economy is still going very, very strong. I think in October the Fed will take a pass, what they do after that remains to be seen.
economy economy-and-economics grip quite recession recovery verge
The economy is on the verge of recovery but the recession has not quite loosened its grip yet.
complete fed inflation lack officials puts recent remarks seem
The complete lack of inflation puts the Fed in a bind. Recent remarks by Fed officials make it seem that they are hell-bent on tightening. But there is not much of a rationale that comes out of recent data.
believe brings four increase rate stable
The increase in the unemployment rate, while very large, is really a catch-up, as the rate had been stable for four months. This brings the unemployment rate to where we believe it should be at this point.
begun far federal problems reserve resolved terms
These problems have begun to improve, but they're far from resolved in terms of problems. So the Federal Reserve has got to keep moving.
barely core economy-and-economics great inflation literally measured past prices wholesale year
This is a great PPI number. We have literally no wholesale inflation in the U.S. economy. The PPI went down, the core PPI was unchanged, and over the past year wholesale prices measured by the core PPI are barely up at all.
although basically declines despite economic economy economy-and-economics leading telling
The Leading Economic Index is basically telling us what we already know. Despite the declines in the index, the economy is growing, although very slowly.
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The market has just dodged a bullet. What this report does is remove the likelihood of a Fed tightening on Oct. 5, but we really can't rule out a tightening in November. We have to stay tuned for more economic data.
earlier pace sector shrinking slower
The manufacturing sector is still shrinking but at a much slower pace than earlier in the year.