Cary Leahey
Cary Leahey
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These are the kinds of things that raise eyebrows at the Fed. The implication that this January report has for wage inflation is bothersome to the market and the Fed.
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The increase in orders is particularly welcome. The bond market may like the fact that the prices paid component dropped 11 points, reversing most of the big gain in November. Analysts are banking on strength in manufacturing next year to offset some of the expected weakness in housing related consumer demand.