Joshua Shapiro
Joshua Shapiro
expecting hard hike minutes next people pointed pounding reaction saw table worst
People were expecting the worst and I think the reaction you saw is that it wasn't as Draconian as many had feared. There wasn't any real hard table pounding or anything in the minutes that pointed to a 50-basic point hike at the next meeting.
consumers gallon gasoline places survey wonder
Well, with gasoline well over $3.00 a gallon in most places when this survey was conducted, it is little wonder that consumers were cranky,
core drift expect good inflation obviously slow
While this was obviously a good month, we don't expect this to continue. We think it's going to be a slow drift up in core inflation going forward.
disruption due energy markets orders prices remains seen solid trend ultimately volatile whether
While these orders have been volatile of late, the trend remains a solid one. Whether we will see a disruption in this trend due to the surge in energy prices remains to be seen and will ultimately be more important to markets than today's pre-Katrina outcome.
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We would not jump to any conclusions based on these numbers, particularly as the weekly jobless claims figures, adjusted for hurricane effects, point to considerably stronger job growth than reported.
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With anticipations of higher rates still clearly in the minds of buyers, we cannot rule out fence-sitters rushing ahead of higher rates.
home pessimism reasonably reasons
There are reasonably deep-seated reasons for pessimism on the part of home builders.
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Export growth will remain solid in the months immediately ahead, which ought to help blunt (but not fully offset) the detrimental effect on the trade deficit of a likely acceleration in import growth.
closer consumer debate difficult mighty raise remains
It's mighty difficult the closer you get to the consumer to raise prices, and that remains the case. There is a big debate out there as to how long can this continue.
fed inflation officials slowing sort sounds worried
It sounds like he's sort of reaffirming what a lot of the Fed officials have been saying, which is that they are more worried about inflation than slowing growth,
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It was a good solid number, maybe not as high as some people were hoping, and not as bad as bonds had feared,
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Economic growth in the autumn and winter is likely to be soft, ... and there is going to be heightened pressure on companies to try to pass through some of their higher costs into finished goods prices.
believe reason slow
It's more of a reason to believe that things are going to slow down.
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It's going to be hard in the near term to do anything more than slow the rate of deterioration in the deficit. Imports are just too large compared with exports.