Robert Brusca
Robert Brusca
concerned fed fighting focused inflation
They are desperately concerned about maintaining inflation fighting credibility. So the Fed is not focused on inflation, it's focused on inflation in the future.
certainly concerned fed recent subdued worried
It's a surprise. Certainly the Fed is worried about inflation, but it has been subdued in recent months, so I wouldn't be too concerned about that.
afraid bullet difficult economy federal growing hard inflation kinds means numbers raise rates reserve sort
It means we sort of dodged another bullet on the inflation front. These kinds of numbers put the Federal Reserve in a difficult box. We don't have inflation, the economy is growing too fast, they are afraid it won't keep up, but it's hard for them to raise rates without any inflation on the doorstep.
clearly dead forces global inflation keeping powerful string trying
It's not that I think inflation will be dead forever, but there are very powerful global forces keeping it low. The bond-market vigilantes are clearly trying to string up the innocent.
given poor report
The report is still a poor one given what has come before, but not terrible,
line
This is very, very much in line with the idea we're slipping into a recession.
bad believe brush compare heard listened market news three warning
This market is wiling to brush away bad news because it doesn't believe in it. Compare it to the Three Little Pigs, when there's a warning they say 'we've heard this before.' But one of these days, there is going to be a warning that the market should have listened to.
ahead continued data face fed hike marginal market rates sees turning
This is what the market did in 1974, ahead of a slowdown in 1975, and the Fed continued to hike rates in the face of marginal data turning worse, ... I don't see where the Fed sees 'traction'.
gains inflation toe
This is the way inflation gains a toe hold,
jonathan russians
It's like an old Jonathan Winters movie - 'The Russians aren't coming! The Russians aren't coming.' And they'll probably never be here.
fresh market view
It makes sense to take a fresh view of things, and then the market readjusts,
rate surprise
It's a surprise -- we thought the unemployment rate would be edging up.
build companies economy giving inflate pumping retailers sales willing
This is an economy that is giving contradictory signals. You don't have companies willing to build inventories, which show that they don't have a lot of confidence. Retailers are pumping sales by discounts, but you can't inflate confidence.
fed
This is a Fed that should be headquartered in Egypt, because it's in denial.