Robert Brusca
Robert Brusca
bit good inflation
a little bit of inflation could be a really good thing, but not too much of it.
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.
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,
dismiss due extent forgive increase market tobacco willing
A point-three increase is a big increase. ( But ) to the extent the increase was due to tobacco prices, the market may be willing to forgive it, dismiss it, to put it aside.
breadth impressive inflation pressures report signals
The breadth of inflation is contained. Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
breadth impressive inflation pressures report signals
The breadth of inflation is contained, ... Inflation pressures are not spreading. This (CPI) report has much more impressive signals than the PPI.
consumer factors growth income line overall picks special spending tells trend unless
So while some special factors may be boosting spending, the overall trend of spending is well out of line with income growth. This tells us that this spending trend is unsustainable unless consumer income growth picks up sharply.
chasing few inflation money oil prices
Oil prices going up is not inflationary. Inflation is too much money chasing too few goods.
imports oil rose
Oil is an important culprit. But it is much more than that. Non-oil imports rose by 0.6 percent.
alter questions raise result
December's result will raise some questions but not enough to alter policy.