Cary Leahey
Cary Leahey
bullets clearly fired left worry
Clearly Greenspan's luster has dimmed, and there's this worry that he's fired a lot of bullets and the bullets he has left won't do any good.
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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.
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That, combined with no job growth, makes it harder and harder for the Fed to pull the trigger in an election year.