Robert Brusca
Robert Brusca
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.
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Some of the signals pointing to job market improvement simply did not bear fruit this month. The report makes the economy look even less like it is building a head of steam.
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What's going on here is we've got a lot of growth. We've seen very, very strong consumption.
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The stock market is earnings-oriented. But if you're looking at earnings, you're not seeing anything improving.
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The sell-off in bonds is for real and is the correct reaction. The Fed will need confirmation to act. The bond market won't. It takes no prisoners.
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The soft spot is looking to be bigger and softer all the time.
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The rise, however, does not mean that housing is out of the woods -- far from it. The Fed is still hiking.
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During this recent period there may be some extra spending on the part of those recovering from hurricane disasters. But it is also true that comprehensive consumer spending has been outstripping income growth over this period,
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Each Fed Chairman has to go through his own, on-the-job, trial by fire. There is no other way.
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Prices don't decline like this unless you've got a lot of slack demand conditions.
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Private sector job growth is still challenged. The report is not very good for the month alone, but the trends have actually improved, thanks to the revisions.
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People don't look at economic data. But they know their own firm, they know if it's solid, they know if it's hiring and if people are getting raises. Even if they're not looking for a job, they know what's going on with their brother or sister or friend's job search. That's what makes these surveys powerful.
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The tale of the zombie consumer continues, ... There is no stopping him or her: Can't shoot 'em, stab 'em, or keep 'em away from the stores with garlic -- especially with post-season sales in progress.